Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Short Interest Down 63.2% in June

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

Institutional Trading of Invesco Oil & Gas Services ETF

Several hedge funds have recently bought and sold shares of PXJ. Raymond James Financial Inc. purchased a new position in shares of Invesco Oil & Gas Services ETF during the second quarter valued at about $42,000. Jefferies Financial Group Inc. lifted its position in shares of Invesco Oil & Gas Services ETF by 14.2% in the third quarter. Jefferies Financial Group Inc. now owns 15,565 shares of the company’s stock worth $424,000 after buying an additional 1,941 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Invesco Oil & Gas Services ETF by 354.3% in the third quarter. Tower Research Capital LLC TRC now owns 17,685 shares of the company’s stock worth $482,000 after buying an additional 13,792 shares in the last quarter. Sound Income Strategies LLC bought a new position in Invesco Oil & Gas Services ETF during the fourth quarter valued at approximately $47,000. Finally, Goldman Sachs Group Inc. boosted its stake in Invesco Oil & Gas Services ETF by 1.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 56,392 shares of the company’s stock valued at $1,655,000 after buying an additional 937 shares during the last quarter.

Key Headlines Impacting Invesco Oil & Gas Services ETF

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?

Invesco Oil & Gas Services ETF Stock Performance

PXJ stock opened at $39.14 on Friday. The company’s fifty day moving average price is $43.36 and its 200-day moving average price is $38.91. Invesco Oil & Gas Services ETF has a one year low of $23.52 and a one year high of $47.11. The company has a market capitalization of $117.42 million, a PE ratio of 9.62 and a beta of 0.74.

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.