Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Sees Large Drop in Short Interest

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) saw a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 32,881 shares, a decrease of 46.8% from the April 30th total of 61,846 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily volume of 20,442 shares, the short-interest ratio is currently 1.6 days.

Institutional Trading of Invesco Oil & Gas Services ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Invesco Oil & Gas Services ETF in the second quarter valued at about $42,000. Sound Income Strategies LLC purchased a new stake in shares of Invesco Oil & Gas Services ETF in the fourth quarter valued at about $47,000. Quantinno Capital Management LP purchased a new stake in shares of Invesco Oil & Gas Services ETF in the first quarter valued at about $240,000. MinichMacGregor Wealth Management LLC purchased a new stake in shares of Invesco Oil & Gas Services ETF in the first quarter valued at about $376,000. Finally, Jefferies Financial Group Inc. raised its holdings in shares of Invesco Oil & Gas Services ETF by 14.2% in the third quarter. Jefferies Financial Group Inc. now owns 15,565 shares of the company’s stock valued at $424,000 after purchasing an additional 1,941 shares during the last quarter.

Invesco Oil & Gas Services ETF Price Performance

Shares of PXJ stock traded up $0.26 on Monday, hitting $42.29. The stock had a trading volume of 8,541 shares, compared to its average volume of 44,667. The business has a 50 day moving average of $43.23 and a 200 day moving average of $37.29. The stock has a market cap of $126.87 million, a price-to-earnings ratio of 9.62 and a beta of 0.78. Invesco Oil & Gas Services ETF has a 12-month low of $23.26 and a 12-month high of $47.11.

Invesco Oil & Gas Services ETF Company Profile

The Invesco Dynamic Oil & Gas Services ETF (PXJ) is an exchange-traded fund that mostly invests in energy equity. The fund tracks an index of US companies in the oil and gas services sector that are weighted in tiers. The index uses a multi-factor methodology to select holdings. PXJ was launched on Oct 26, 2005 and is managed by Invesco.