Employees Provident Fund Board acquired a new stake in shares of VanEck Oil Services ETF (NYSEARCA:OIH – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 243,479 shares of the company’s stock, valued at approximately $69,336,000.
Other large investors have also bought and sold shares of the company. SBI Securities Co. Ltd. lifted its stake in shares of VanEck Oil Services ETF by 66.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Wexford Capital LP bought a new stake in shares of VanEck Oil Services ETF during the third quarter valued at approximately $27,000. Founders Financial Alliance LLC purchased a new position in VanEck Oil Services ETF in the 3rd quarter worth approximately $33,000. Greykasell Wealth Strategies Inc. purchased a new position in VanEck Oil Services ETF in the 4th quarter worth approximately $33,000. Finally, Empowered Funds LLC bought a new position in VanEck Oil Services ETF in the 4th quarter valued at approximately $34,000. 94.50% of the stock is owned by hedge funds and other institutional investors.
VanEck Oil Services ETF Stock Performance
Shares of OIH opened at $385.49 on Friday. The business’s fifty day simple moving average is $425.22 and its two-hundred day simple moving average is $375.67. VanEck Oil Services ETF has a 12 month low of $226.59 and a 12 month high of $459.28. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 10.97 and a beta of 0.85.
More VanEck Oil Services ETF News
- Positive Sentiment: Some analysts and officials said oil flows through Hormuz may recover slowly, which could keep a floor under crude prices in the near term. Oil flows through Hormuz will take time to recover, banks say
- Positive Sentiment: OPEC reiterated a robust long-term demand outlook, saying there is no peak in sight for global oil demand, which supports the case for continued upstream activity over time. OPEC sticks to robust oil demand outlook, sees no peak to 2050
- Neutral Sentiment: Shipping through Hormuz has started to improve, but officials and market watchers said the normalization process could take months and remains sensitive to conditions in the region. Oil shipments rise in Hormuz although questions grow over Iran’s transit terms
- Neutral Sentiment: Industry coverage also noted that focus is shifting from the conflict itself to storage, shipping, and how quickly Gulf producers can ramp exports back up. Hormuz Reopening Shifts Focus to Gulf Oil Storage and Shipping
- Negative Sentiment: Multiple reports said oil prices fell sharply as the Strait of Hormuz reopened or was expected to reopen, with traders pricing in a return of stranded supply and a potential demand-side headwind for energy services stocks. Oil falls as supply starts moving through Strait of Hormuz
About VanEck Oil Services ETF
The VanEck Oil Services ETF (OIH) is an exchange-traded fund that is based on the MVIS US Listed Oil Services 25 index, a market-cap-weighted index of 25 of the largest US-listed, publicly traded oil services companies. OIH was launched on Feb 7, 2001 and is managed by VanEck.
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