Graham Capital Management L.P. Takes $13.67 Million Position in VanEck Oil Services ETF $OIH

Graham Capital Management L.P. acquired a new stake in VanEck Oil Services ETF (NYSEARCA:OIH) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 48,000 shares of the company’s stock, valued at approximately $13,669,000.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. boosted its stake in shares of VanEck Oil Services ETF by 66.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Wexford Capital LP bought a new stake in shares of VanEck Oil Services ETF in the 3rd quarter valued at $27,000. Greykasell Wealth Strategies Inc. bought a new position in VanEck Oil Services ETF during the fourth quarter worth $33,000. Empowered Funds LLC bought a new position in VanEck Oil Services ETF during the fourth quarter worth $34,000. Finally, Founders Financial Alliance LLC bought a new position in VanEck Oil Services ETF during the third quarter worth $33,000. 94.50% of the stock is owned by institutional investors.

Key VanEck Oil Services ETF News

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

• Positive Sentiment: U.S. crude inventories fell for a ninth straight week, which points to still-tight near-term supply conditions and could support oilfield activity. US crude stocks fall for ninth straight week, sources say
• Neutral Sentiment: Potential Tropical Cyclone One off the Texas coast may disrupt Gulf energy operations with heavy rain and flooding, but the impact is still uncertain. Potential Tropical Cyclone One forms off Texas coast, threatening dangerous flash flooding
• Neutral Sentiment: Some analysts still see a technical rebound in oil after the recent selloff, suggesting prices may not fall in a straight line. Natural Gas and Oil Forecast: Truce Stability Fuels Technical Recovery — What’s Next for Oil & NatGas?
• Negative Sentiment: Crude prices are under pressure because traders expect more supply from the Middle East as Gulf flows recover faster than expected. Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Dives 6% As Traders Prepare For The Flood Of Oil From The Middle East
• Negative Sentiment: Reports that the U.S. will let Iran immediately resume oil sales, along with comments that oil prices are back near baseline levels, reinforce a weaker crude-price outlook. U.S.-Iran deal allows Tehran to immediately sell oil, WSJ reports ECB’s Lane says oil prices closer to baseline scenario after Iran deal
• Negative Sentiment: Major banks cut oil-price forecasts, and multiple reports say oil prices fell as the Strait of Hormuz reopening became more likely, which weighs on oil-services demand and sentiment. Major Wall Street Banks Cut Oil-Price Forecasts on Faster Gulf Supply Recovery Oil Prices Fall Further As Trump Says Strait of Hormuz Will Reopen This Week
• Negative Sentiment: Energy shares broadly fell after the Iran deal lowered the risk of Hormuz disruption, a direct headwind for the VanEck Oil Services ETF (OIH). Energy shares fall as Iran deal lowers Hormuz disruption risk

VanEck Oil Services ETF Stock Down 2.2%

Shares of NYSEARCA OIH opened at $406.19 on Wednesday. The firm has a market cap of $2.27 billion, a PE ratio of 10.97 and a beta of 0.85. VanEck Oil Services ETF has a 12-month low of $226.59 and a 12-month high of $459.28. The company’s fifty day simple moving average is $426.21 and its 200 day simple moving average is $374.14.

VanEck Oil Services ETF Profile

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.