Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Sees Large Drop in Short Interest

Invesco Oil & Gas Services ETF (NYSEARCA:PXJGet Free Report) saw a significant decrease in short interest in May. As of May 15th, there was short interest totaling 32,881 shares, a decrease of 46.8% from the April 30th total of 61,846 shares. Based on an average trading volume of 20,442 shares, the short-interest ratio is presently 1.6 days. Currently, 1.1% of the company’s stock are sold short.

Invesco Oil & Gas Services ETF Trading Up 0.6%

Shares of PXJ stock traded up $0.26 during trading hours on Monday, hitting $42.29. 8,541 shares of the company were exchanged, compared to its average volume of 44,667. The business has a 50 day moving average of $43.23 and a two-hundred day moving average of $37.29. Invesco Oil & Gas Services ETF has a 52 week low of $23.26 and a 52 week high of $47.11. The company has a market capitalization of $126.87 million, a PE ratio of 9.62 and a beta of 0.78.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PXJ. Raymond James Financial Inc. bought a new position in Invesco Oil & Gas Services ETF in the second quarter valued at $42,000. Sound Income Strategies LLC acquired a new stake in Invesco Oil & Gas Services ETF in the 4th quarter worth about $47,000. Quantinno Capital Management LP acquired a new stake in Invesco Oil & Gas Services ETF in the 1st quarter worth about $240,000. MinichMacGregor Wealth Management LLC acquired a new stake in Invesco Oil & Gas Services ETF in the 1st quarter worth about $376,000. Finally, Jefferies Financial Group Inc. raised its stake in Invesco Oil & Gas Services ETF by 14.2% in the 3rd quarter. Jefferies Financial Group Inc. now owns 15,565 shares of the company’s stock worth $424,000 after purchasing an additional 1,941 shares in the last quarter.

About Invesco Oil & Gas Services ETF

(Get Free Report)

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.

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