Short Interest in Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Declines By 60.8%

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 12,678 shares, a drop of 60.8% from the August 15th total of 32,380 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 133,845 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Invesco Oil & Gas Services ETF

Large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in shares of Invesco Oil & Gas Services ETF by 1,933.6% during the first quarter. Bank of America Corp DE now owns 143,148 shares of the company’s stock valued at $5,933,000 after buying an additional 136,109 shares during the period. Private Advisor Group LLC purchased a new stake in Invesco Oil & Gas Services ETF in the 1st quarter worth approximately $466,000. Independent Financial Group LLC purchased a new stake in Invesco Oil & Gas Services ETF in the 1st quarter worth approximately $460,000. MinichMacGregor Wealth Management LLC acquired a new position in Invesco Oil & Gas Services ETF in the 1st quarter valued at $376,000. Finally, Quantinno Capital Management LP acquired a new position in Invesco Oil & Gas Services ETF in the 1st quarter valued at $240,000.

Invesco Oil & Gas Services ETF Stock Performance

PXJ stock traded down $1.13 during trading on Monday, reaching $46.24. 47,347 shares of the company were exchanged, compared to its average volume of 52,993. The stock’s 50 day moving average price is $43.84 and its 200 day moving average price is $42.76. Invesco Oil & Gas Services ETF has a 52-week low of $25.56 and a 52-week high of $48.28. The company has a market cap of $67.97 million, a P/E ratio of 9.62 and a beta of 0.78.

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.