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

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) dropped 0.2% during mid-day trading on Monday . The company traded as low as $40.67 and last traded at $40.67. 7,094 shares traded hands during trading, a decline of 86% from the average session 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 company has a market capitalization of $64.26 million, a P/E ratio of 9.62 and a beta of 0.76. The firm’s 50-day moving average price is $42.09 and its 200 day moving average price is $40.10.

Institutional Trading of Invesco Oil & Gas Services ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Invesco Oil & Gas Services ETF by 1,933.6% in the first 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 worth $1,655,000 after buying an additional 937 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Invesco Oil & Gas Services ETF by 354.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,685 shares of the company’s stock valued at $482,000 after buying an additional 13,792 shares during the last quarter. Jefferies Financial Group Inc. raised its position 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 valued at $424,000 after buying an additional 1,941 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in Invesco Oil & Gas Services ETF by 16.2% during the 4th quarter. LPL Financial LLC now owns 15,385 shares of the company’s stock valued at $452,000 after acquiring an additional 2,147 shares in the last quarter.

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.