Bank of America Corp DE Increases Stock Holdings in Invesco Oil & Gas Services ETF $PXJ

Bank of America Corp DE boosted its holdings in shares of Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) by 1,933.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,148 shares of the company’s stock after buying an additional 136,109 shares during the period. Bank of America Corp DE’s holdings in Invesco Oil & Gas Services ETF were worth $5,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PXJ. Goldman Sachs Group Inc. boosted its holdings in Invesco Oil & Gas Services ETF by 1.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 56,392 shares of the company’s stock worth $1,655,000 after acquiring an additional 937 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Invesco Oil & Gas Services ETF during the second quarter valued at about $42,000. 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 worth $424,000 after buying an additional 1,941 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Invesco Oil & Gas Services ETF by 16.2% in the fourth quarter. LPL Financial LLC now owns 15,385 shares of the company’s stock worth $452,000 after buying an additional 2,147 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Invesco Oil & Gas Services ETF during the first quarter worth $240,000.

Invesco Oil & Gas Services ETF Price Performance

Shares of PXJ opened at $44.56 on Thursday. The firm has a market capitalization of $65.50 million, a PE ratio of 9.62 and a beta of 0.76. Invesco Oil & Gas Services ETF has a 1-year low of $25.56 and a 1-year high of $47.11. The company’s fifty day moving average price is $42.01 and its 200-day moving average price is $42.08.

Key Headlines Impacting Invesco Oil & Gas Services ETF

Here are the key news stories impacting Invesco Oil & Gas Services ETF this week:

• Positive Sentiment: The U.S. Interior Department is preparing to streamline environmental reviews for certain oil and gas exploration activities in Alaska’s National Petroleum Reserve. Faster permitting could support additional drilling activity and potentially increase demand for oilfield services over time. US preparing to ease environmental reviews for Alaska oil and gas drilling
• Neutral Sentiment: U.S. commercial crude inventories rose by 95,000 barrels to 428.9 million barrels for the week ended August 21. The increase was modest, but it indicates that near-term supply remains adequate and limits the bullish impact of energy-market tightness. U.S. Crude Oil Inventories See Modest Weekly Build
• Negative Sentiment: Oil prices extended their decline as Iran and Oman discussed arrangements that could improve shipping through the Strait of Hormuz. The prospect of fewer supply disruptions reduced oil’s geopolitical risk premium, weighing on oilfield-services sentiment. Oil falls on easing concerns of renewed tensions as the U.S. pivots to economic pressure on Iran
• Negative Sentiment: Reports that Hormuz tensions may ease, alongside mediation efforts and expectations of less severe-than-feared sanctions on Iran, added further pressure to WTI and Brent crude. Lower commodity prices can cause producers to delay drilling and capital expenditures, affecting PXJ holdings. US oil prices extend losses on hopes of Iran-Oman talks on Strait of Hormuz
• Negative Sentiment: PXJ’s short interest surged to 32,380 shares as of August 14, up sharply from late July. Although short interest represents only about 2.2% of shares outstanding, the increase signals more bearish positioning and may contribute to volatility.

Invesco Oil & Gas Services ETF 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.