Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Sees Significant Decline in Short Interest

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 12,103 shares, a decline of 63.2% from the May 31st total of 32,857 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 17,026 shares, the short-interest ratio is currently 0.7 days.

Invesco Oil & Gas Services ETF Stock Down 1.7%

Shares of NYSEARCA:PXJ opened at $39.14 on Friday. Invesco Oil & Gas Services ETF has a 52-week low of $23.52 and a 52-week high of $47.11. The stock has a market cap of $117.42 million, a P/E ratio of 9.62 and a beta of 0.74. The business’s 50 day moving average is $43.36 and its 200 day moving average is $38.91.

Institutional Investors Weigh In On Invesco Oil & Gas Services ETF

Several hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of Invesco Oil & Gas Services ETF during the fourth quarter valued at $47,000. Raymond James Financial Inc. purchased a new stake in Invesco Oil & Gas Services ETF in the second quarter worth about $42,000. Quantinno Capital Management LP purchased a new stake in Invesco Oil & Gas Services ETF in the first quarter worth about $240,000. MinichMacGregor Wealth Management LLC bought a new position in Invesco Oil & Gas Services ETF during the 1st quarter worth about $376,000. Finally, Independent Financial Group LLC bought a new position in Invesco Oil & Gas Services ETF during the 1st quarter worth about $460,000.

More Invesco Oil & Gas Services ETF News

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

• Positive Sentiment: Short interest in PXJ fell sharply in mid-June, suggesting less bearish positioning and potentially reducing downward pressure on the ETF.
• Neutral Sentiment: Some analysts say oil is technically oversold and could stabilize, which may limit further downside if crude finds support near current levels.
• Negative Sentiment: Crude prices continue to weaken as tanker traffic through the Strait of Hormuz normalizes, reducing the war-related supply premium that had supported energy stocks. Oil prices fall as tankers exit Strait of Hormuz
• Negative Sentiment: Multiple reports point to oil trading near or below $70 a barrel, with market commentary describing the move as a correction toward pre-war levels, which is a headwind for PXJ’s energy-services holdings. Oil Futures Fall on Likely Technical Correction
• Negative Sentiment: Recent articles also note robust U.S. production and improving export flows, adding supply pressure just as geopolitical concerns ease. Natural Gas and Oil Forecast: Truce Stability vs Supply Surge — Will Oil Collapse or NatGas Lead?

About Invesco Oil & Gas Services ETF

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.