Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Shares Shorted: Short Interest Down 45.4% in September

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 40,233 shares, a decline of 45.4% from the September 15th total of 73,728 shares. Based on an average daily trading volume, of 34,944 shares, the short-interest ratio is presently 1.2 days. Currently, 1.4% of the shares of the company are sold short.

Key Invesco Oil & Gas Services ETF News

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

• Positive Sentiment: U.S. commercial crude inventories fell by 8.6 million barrels, while refineries increased utilization. The drawdown suggests firm near-term demand and tighter domestic supply, potentially supporting producer and oilfield-services activity. U.S. Crude Oil Stockpiles Post Large Weekly Drop
• Positive Sentiment: Attacks and shipping disruptions around the Strait of Hormuz, along with broader Saudi-Yemen tensions, continue to create a risk premium for crude. Sustained supply uncertainty could encourage exploration, production and related services spending. Oil falls as investors assess Mideast tensions and IEA report
• Neutral Sentiment: The EU delayed methane rules for oil and gas imports by one year. The move may reduce near-term compliance pressure on energy producers, although it is unlikely to be a major immediate catalyst for PXJ. EU delays methane rules on oil and gas imports for a year
• Negative Sentiment: The International Energy Agency said global oil-stock releases will exceed 400 million barrels and accelerated releases will include more than 20 million barrels of diesel. Additional emergency supply could limit crude-price gains and reduce investor enthusiasm for energy services. IEA says total oil stock release will exceed 400 million barrels
• Negative Sentiment: Oil prices fell as traders assessed recovering Gulf exports, Saudi Aramco’s additional spot cargoes for Europe and possible U.S. measures to reduce tanker costs. These developments eased immediate supply concerns and pressured the commodity-sensitive PXJ portfolio. Saudi Aramco offers extra spot crude cargoes to Europe

Institutional Investors Weigh In On Invesco Oil & Gas Services ETF

Several hedge funds and other institutional investors have recently modified their holdings of PXJ. MinichMacGregor Wealth Management LLC bought a new stake in Invesco Oil & Gas Services ETF during the 3rd quarter worth approximately $316,000. Sound Income Strategies LLC bought a new position in Invesco Oil & Gas Services ETF in the 3rd quarter valued at $266,000. Integrated Wealth Concepts LLC bought a new position in Invesco Oil & Gas Services ETF in the 2nd quarter valued at $51,000. Bank of America Corp DE boosted its holdings in Invesco Oil & Gas Services ETF by 1,933.6% in the 1st quarter. Bank of America Corp DE now owns 143,148 shares of the company’s stock valued at $5,933,000 after purchasing an additional 136,109 shares during the period. Finally, Quantinno Capital Management LP bought 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 midday trading on Thursday, reaching $43.51. 80,141 shares of the company’s stock traded hands, compared to its average volume of 50,162. The company has a 50-day moving average price of $45.66 and a two-hundred day moving average price of $43.49. Invesco Oil & Gas Services ETF has a 52 week low of $25.96 and a 52 week high of $48.28. The firm has a market capitalization of $124.00 million, a PE ratio of 9.62 and a beta of 0.84.

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.