Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Shares Down 1.5% – Should You Sell?

Shares of Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) fell 1.5% on Monday . The company traded as low as $29.84 and last traded at $29.99. 33,856 shares were traded during mid-day trading, a decline of 2% from the average session volume of 34,712 shares. The stock had previously closed at $30.46.

Invesco Oil & Gas Services ETF Price Performance

The firm has a market capitalization of $87.61 million, a P/E ratio of 124.34 and a beta of 0.72. The firm has a 50-day moving average price of $29.71 and a two-hundred day moving average price of $31.18.

Institutional Trading of Invesco Oil & Gas Services ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its stake in shares of Invesco Oil & Gas Services ETF by 5.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,260 shares of the company’s stock valued at $421,000 after buying an additional 650 shares during the period. Nilsine Partners LLC raised its holdings in shares of Invesco Oil & Gas Services ETF by 2.5% in the 2nd quarter. Nilsine Partners LLC now owns 41,962 shares of the company’s stock valued at $1,341,000 after purchasing an additional 1,023 shares in the last quarter. Raymond James & Associates lifted its position in shares of Invesco Oil & Gas Services ETF by 15.3% in the 2nd quarter. Raymond James & Associates now owns 83,809 shares of the company’s stock worth $2,679,000 after purchasing an additional 11,135 shares during the period. Finally, Outlook Wealth Advisors LLC bought a new position in shares of Invesco Oil & Gas Services ETF during the second quarter valued at approximately $1,013,000.

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.