Goldman Sachs Group Inc. Sells 396,127 Shares of VanEck Oil Services ETF $OIH

Goldman Sachs Group Inc. trimmed its holdings in shares of VanEck Oil Services ETF (NYSEARCA:OIH) by 32.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 810,301 shares of the company’s stock after selling 396,127 shares during the period. Goldman Sachs Group Inc. owned about 13.62% of VanEck Oil Services ETF worth $230,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OIH. SBI Securities Co. Ltd. grew its holdings in VanEck Oil Services ETF by 66.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Wexford Capital LP bought a new position in VanEck Oil Services ETF during the 3rd quarter worth about $27,000. Founders Financial Alliance LLC bought a new position in VanEck Oil Services ETF during the 3rd quarter worth about $33,000. Advisory Services Network LLC bought a new position in VanEck Oil Services ETF during the 3rd quarter worth about $43,000. Finally, Qube Research & Technologies Ltd bought a new position in VanEck Oil Services ETF during the 2nd quarter worth about $53,000. 94.50% of the stock is currently owned by institutional investors.

Trending Headlines about VanEck Oil Services ETF

Here are the key news stories impacting VanEck Oil Services ETF this week:

• Positive Sentiment: Geopolitical risk remains elevated, with Iran threatening a key Red Sea chokepoint and broader concerns over the Strait of Hormuz keeping a supply shock in play; that can support oil prices and benefit oil services companies. Iran’s threats against this Red Sea chokepoint are a big vulnerability for the oil market
• Positive Sentiment: Reuters reported global oil inventories are running very low and warned that another price spike could hit markets soon, reinforcing the idea of tighter supply and potentially stronger drilling/service demand. Global oil inventories depleted, next price spike could roil economies, markets
• Positive Sentiment: US oil exports are surging and domestic crude inventories are being drawn down, another sign of a tight market that could support upstream spending and oilfield activity. US oil exports surge, draining domestic crude inventories toward rock bottom
• Neutral Sentiment: Several updates suggest oil prices have softened on peace-talk hopes, a firmer dollar, and easing immediate war fears, which can temporarily pressure oil services shares. Oil News: Oil Outlook Darkens as Dollar Surge Pressures Futures
• Neutral Sentiment: Market commentary also pointed to a possible technical correction and consolidation in crude, adding near-term volatility for OIH without changing the broader bullish backdrop. Oil Futures Fall on Possible Technical Correction
• Negative Sentiment: Recent reports said oil prices fell as Lebanon-Israel ceasefire hopes and U.S.-Iran peace expectations reduced the immediate supply-risk premium, which can weigh on oil service equities like OIH. Oil falls as Lebanon and Israel agree to implement ceasefire

VanEck Oil Services ETF Price Performance

Shares of VanEck Oil Services ETF stock opened at $414.70 on Friday. VanEck Oil Services ETF has a 1 year low of $226.48 and a 1 year high of $459.28. The firm’s 50-day moving average is $423.83 and its two-hundred day moving average is $366.68. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 10.97 and a beta of 0.85.

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.