Petra Financial Advisors Inc. Purchases New Position in VanEck Oil Services ETF $OIH

Petra Financial Advisors Inc. purchased a new stake in shares of VanEck Oil Services ETF (NYSEARCA:OIH) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 18,177 shares of the company’s stock, valued at approximately $7,347,000. VanEck Oil Services ETF comprises approximately 4.5% of Petra Financial Advisors Inc.’s investment portfolio, making the stock its 4th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Employees Provident Fund Board bought a new stake in shares of VanEck Oil Services ETF in the 4th quarter worth approximately $69,336,000. Gendell Jeffrey L raised its holdings in shares of VanEck Oil Services ETF by 79.9% during the fourth quarter. Gendell Jeffrey L now owns 146,532 shares of the company’s stock valued at $41,728,000 after acquiring an additional 65,084 shares in the last quarter. Red Cedar Investment Management LLC bought a new position in shares of VanEck Oil Services ETF during the fourth quarter valued at approximately $15,506,000. Graham Capital Management L.P. purchased a new stake in VanEck Oil Services ETF in the fourth quarter worth $13,669,000. Finally, Pureheart Capital Pte Ltd. purchased a new stake in VanEck Oil Services ETF in the third quarter worth $12,216,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Key Headlines Impacting VanEck Oil Services ETF

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

• Positive Sentiment: Crude prices have extended their rally on renewed Middle East conflict, with Brent moving above $90 and WTI testing key resistance levels, improving sentiment for oil services companies that benefit from higher upstream spending. Brent oil tops $90 as US, Iran intensify attacks in Middle East
• Positive Sentiment: Shipping disruptions through the Strait of Hormuz and the Bab el-Mandeb have raised supply-risk fears, which could keep crude prices supported and boost demand for oilfield services if producers respond with more activity. Ships shun Strait of Hormuz as renewed fighting strains key oil corridor
• Positive Sentiment: Lower U.S. crude inventories and a smaller Strategic Petroleum Reserve add to the tight-supply narrative, reinforcing the case for firm oil prices. Oil stocks in US Strategic Petroleum Reserve fall by 5.1 million barrels to lowest since 1983
• Neutral Sentiment: Some reports note that crude has pulled back at times as mediation efforts and demand concerns briefly offset the geopolitical premium, so the move is still sensitive to headlines. Oil prices dip as mediation efforts offset US-Iran strikes

VanEck Oil Services ETF Stock Up 2.2%

NYSEARCA:OIH opened at $383.49 on Wednesday. The stock has a market cap of $2.01 billion, a P/E ratio of 10.97 and a beta of 0.87. The firm’s fifty day simple moving average is $404.36 and its 200 day simple moving average is $388.99. VanEck Oil Services ETF has a twelve month low of $231.82 and a twelve month high of $459.28.

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.