Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Shares Up 2% – Still a Buy?

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ)’s share price was up 2% during trading on Wednesday . The stock traded as high as $30.58 and last traded at $30.48. Approximately 6,842 shares changed hands during trading, a decline of 58% from the average daily volume of 16,371 shares. The stock had previously closed at $29.87.

Invesco Oil & Gas Services ETF Price Performance

The stock’s 50 day moving average price is $28.83 and its two-hundred day moving average price is $29.67. The firm has a market capitalization of $90.83 million, a price-to-earnings ratio of 124.34 and a beta of 0.72.

Institutional Investors Weigh In On Invesco Oil & Gas Services ETF

Hedge funds have recently modified their holdings of the business. Outlook Wealth Advisors LLC raised its position in shares of Invesco Oil & Gas Services ETF by 6.1% during the third quarter. Outlook Wealth Advisors LLC now owns 33,611 shares of the company’s stock valued at $972,000 after buying an additional 1,924 shares during the last quarter. Prospera Financial Services Inc increased its stake in Invesco Oil & Gas Services ETF by 4.9% during the third quarter. Prospera Financial Services Inc now owns 13,094 shares of the company’s stock valued at $378,000 after acquiring an additional 614 shares during the period. Stifel Financial Corp raised its holdings in Invesco Oil & Gas Services ETF by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,301 shares of the company’s stock valued at $905,000 after acquiring an additional 403 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Invesco Oil & Gas Services ETF in the 3rd quarter worth approximately $269,000.

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.