Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Stock Short Interest Report for September

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

Hedge Funds Weigh In On Invesco Oil & Gas Services ETF

A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in Invesco Oil & Gas Services ETF in the second quarter worth $51,000. Quantinno Capital Management LP bought a new position in Invesco Oil & Gas Services ETF during the first quarter worth about $240,000. Sound Income Strategies LLC bought a new position in Invesco Oil & Gas Services ETF during the third quarter worth about $266,000. MinichMacGregor Wealth Management LLC bought a new position in Invesco Oil & Gas Services ETF during the third quarter worth about $316,000. Finally, Independent Financial Group LLC purchased a new position in shares of Invesco Oil & Gas Services ETF in the first quarter worth about $460,000.

Invesco Oil & Gas Services ETF Trading Up 0.9%

Invesco Oil & Gas Services ETF stock traded up $0.40 during midday trading on Friday, reaching $43.90. The stock had a trading volume of 41,319 shares, compared to its average volume of 50,178. The company has a fifty day moving average price of $45.71 and a two-hundred day moving average price of $43.50. Invesco Oil & Gas Services ETF has a 12 month low of $26.10 and a 12 month high of $48.28. The company has a market capitalization of $123.36 million, a P/E ratio of 9.62 and a beta of 0.84.

Key Stories Impacting Invesco Oil & Gas Services ETF

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

• Positive Sentiment: WTI and Brent crude rallied as traders prepared for a possible new round of U.S.-Iran conflict. The geopolitical premium is supporting oil prices and improving the near-term outlook for oilfield-services providers. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soars 4% As Traders Prepare For Escalation In The Middle East
• Positive Sentiment: U.S. crude inventories fell by 8.6 million barrels, with lower production and imports combining with stronger refinery utilization. The drawdown reinforces a tighter supply outlook and helped fuel bullish oil-price momentum. U.S. Crude Oil Stockpiles Post Large Weekly Drop
• Positive Sentiment: Technical analysts cited a bullish reversal and falling-wedge breakout, with WTI potentially targeting $100. Higher and more durable crude prices would generally support exploration, production and oilfield-services spending. WTI Price Forecast: Crude Oil Targets $100 as Bullish Momentum Builds
• Neutral Sentiment: The U.S. is seeking an exchange involving up to 17 million barrels from the Strategic Petroleum Reserve, while the IEA plans releases exceeding 400 million barrels, including more than 20 million barrels of diesel. These measures could limit oil-price gains, but may also cushion fuel-market disruptions. IEA says total oil stock release will exceed 400 million barrels
• Negative Sentiment: Saudi Aramco’s offer of additional spot cargoes to Europe, possible easing of tanker sanctions and recovering Gulf exports could alleviate near-term supply concerns. Any resulting pullback in crude prices would reduce the bullish catalyst for PXJ. Saudi Aramco offers extra spot crude cargoes to Europe

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.