Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Stock Price Down 0.2% – Here’s Why

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) dropped 0.2% during mid-day trading on Monday . The stock traded as low as $40.67 and last traded at $40.67. 7,094 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 50,771 shares. The stock had previously closed at $40.76.

Invesco Oil & Gas Services ETF News Summary

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

• Positive Sentiment: Brent crude topped $90 a barrel as U.S.-Iran fighting intensified, raising fears of supply disruptions and lifting the outlook for energy services demand. Brent oil tops $90 as US, Iran intensify attacks in Middle East
• Positive Sentiment: Renewed conflict has pushed U.S. gasoline prices back above $4 a gallon, reinforcing the broader move higher in energy prices. US pump prices cross $4 again on renewed fighting in the Middle East
• Positive Sentiment: Shipping through the Strait of Hormuz remained muted, adding to concerns about crude flows and supporting oil-related equities. Few tankers enter Hormuz to load oil, data shows
• Positive Sentiment: A potential Houthi blockade of the Bab el-Mandeb Strait could further tighten global oil shipping routes and keep crude prices elevated. Houthi Red Sea blockade would lift oil prices, but workarounds could limit impact

Invesco Oil & Gas Services ETF Stock Down 0.2%

The business’s 50-day moving average is $42.09 and its two-hundred day moving average is $40.10. The company has a market capitalization of $64.26 million, a P/E ratio of 9.62 and a beta of 0.76.

Hedge Funds Weigh In On Invesco Oil & Gas Services ETF

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Invesco Oil & Gas Services ETF in the 2nd quarter worth approximately $42,000. Sound Income Strategies LLC purchased a new stake in shares of Invesco Oil & Gas Services ETF during the fourth quarter valued at approximately $47,000. Quantinno Capital Management LP purchased a new stake in shares of Invesco Oil & Gas Services ETF during the first quarter valued at approximately $240,000. MinichMacGregor Wealth Management LLC purchased a new stake in shares of Invesco Oil & Gas Services ETF during the first quarter valued at approximately $376,000. Finally, Jefferies Financial Group Inc. lifted its holdings in Invesco Oil & Gas Services ETF by 14.2% during the third quarter. Jefferies Financial Group Inc. now owns 15,565 shares of the company’s stock worth $424,000 after acquiring an additional 1,941 shares during the period.

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.