Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Shares Down 2.8% – Here’s Why

Shares of Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) were down 2.8% on Friday . The company traded as low as $27.35 and last traded at $27.43. Approximately 11,169 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 17,678 shares. The stock had previously closed at $28.21.

Invesco Oil & Gas Services ETF Trading Down 2.8 %

The stock has a market cap of $36.48 million, a P/E ratio of 10.25 and a beta of 1.49. The company’s 50 day moving average price is $28.53 and its two-hundred day moving average price is $29.08.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC purchased a new stake in shares of Invesco Oil & Gas Services ETF in the fourth quarter worth about $208,000. Jane Street Group LLC bought a new position in Invesco Oil & Gas Services ETF during the 4th quarter valued at about $216,000. JPMorgan Chase & Co. bought a new stake in Invesco Oil & Gas Services ETF in the third quarter worth about $269,000. Jefferies Financial Group Inc. bought a new position in shares of Invesco Oil & Gas Services ETF during the fourth quarter valued at approximately $272,000. Finally, Prospera Financial Services Inc raised its holdings in shares of Invesco Oil & Gas Services ETF by 4.9% in the third quarter. Prospera Financial Services Inc now owns 13,094 shares of the company’s stock worth $378,000 after buying an additional 614 shares during the period.

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.