Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Stock Short Interest Climbs 481.5%

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 73,728 shares, a growth of 481.5% from the August 31st total of 12,678 shares. Based on an average trading volume of 47,794 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.5% of the shares of the company are sold short.

Invesco Oil & Gas Services ETF News Roundup

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

• Positive Sentiment: Continued conflict has disrupted roughly one-quarter of oil shipments through the Strait of Hormuz. The resulting supply risk, along with warnings that oil prices could remain elevated even if the Iran conflict ends, could support exploration, production and oil-field service activity. Why JPMorgan has given up predicting what the oil markets will do next Peter Schiff predicts economic downturn and higher oil prices
• Positive Sentiment: Analysts continue to cite Middle East supply risks and a global diesel shortage as reasons for a potentially bullish WTI and Brent outlook. Sustained crude prices near or above $100 per barrel would generally be favorable for oil producers and the service companies held by PXJ. WTI and Brent forecast
• Neutral Sentiment: PXJ short interest rose 481.5% to 73,728 shares as of September 15, equal to 2.5% of shares outstanding and 1.5 days to cover. The increase signals greater bearish positioning, although the relatively low days-to-cover ratio leaves some potential for short-covering if energy stocks strengthen.
• Negative Sentiment: Oil prices have pulled back as traders weigh a possible Iran truce and efforts to reopen the Strait of Hormuz. A decline in crude prices can reduce producer spending plans and weaken demand for oil-field services, weighing on PXJ. Stock Market Today: Bond Selloff Abates as Oil Price Slips Oil prices fall as markets look to Iran truce
• Negative Sentiment: Talk of a U.S. diesel-export ban is widening the discount of U.S. crude to Brent, suggesting refiners may process less crude if diesel becomes trapped domestically. That could reduce crude demand and weaken sentiment across the energy sector. Talk of US export ban on diesel
• Negative Sentiment: An unexpected 3-million-barrel increase in U.S. crude inventories, versus expectations for a draw, adds evidence of near-term oversupply and has capped oil-price gains. U.S. crude oil stockpiles post unexpected build

Institutional Trading of Invesco Oil & Gas Services ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in Invesco Oil & Gas Services ETF in the 2nd quarter worth about $51,000. Quantinno Capital Management LP bought a new stake in shares of Invesco Oil & Gas Services ETF during 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 worth about $376,000. Independent Financial Group LLC bought a new position in shares of Invesco Oil & Gas Services ETF in the first quarter valued at approximately $460,000. Finally, Private Advisor Group LLC purchased a new position in Invesco Oil & Gas Services ETF during the first quarter valued at approximately $466,000.

Invesco Oil & Gas Services ETF Price Performance

NYSEARCA:PXJ opened at $44.70 on Friday. The company has a market cap of $129.63 million, a P/E ratio of 9.62 and a beta of 0.78. The stock’s fifty day moving average price is $44.83 and its two-hundred day moving average price is $43.05. Invesco Oil & Gas Services ETF has a 1 year low of $25.56 and a 1 year high of $48.28.

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.