Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Reaches New 12-Month High – Still a Buy?

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $1,990.00 and last traded at $1,990.00, with a volume of 8 shares trading hands. The stock had previously closed at $30.22.

Invesco Oil & Gas Services ETF Stock Performance

The firm’s 50-day moving average price is $27.61 and its two-hundred day moving average price is $25.52. The firm has a market capitalization of $27.25 million, a price-to-earnings ratio of 9.62 and a beta of 1.02.

Hedge Funds Weigh In On Invesco Oil & Gas Services ETF

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Invesco Oil & Gas Services ETF during the second quarter worth approximately $42,000. Jefferies Financial Group Inc. raised its stake in shares of Invesco Oil & Gas Services ETF by 28.8% during the first quarter. Jefferies Financial Group Inc. now owns 12,585 shares of the company’s stock worth $323,000 after buying an additional 2,812 shares during the last quarter. Finally, Marshall Investment Management LLC acquired a new position in Invesco Oil & Gas Services ETF during the first quarter valued at approximately $1,044,000.

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.