1,750 Shares in VanEck Oil Services ETF $OIH Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. purchased a new position in shares of VanEck Oil Services ETF (NYSEARCA:OIH) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,750 shares of the company’s stock, valued at approximately $662,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in OIH. Bank of America Corp DE boosted its holdings in shares of VanEck Oil Services ETF by 11.1% in the 1st quarter. Bank of America Corp DE now owns 422,973 shares of the company’s stock valued at $170,970,000 after buying an additional 42,166 shares during the last quarter. Royal Bank of Canada increased its holdings in VanEck Oil Services ETF by 62.5% during the first quarter. Royal Bank of Canada now owns 80,889 shares of the company’s stock worth $32,696,000 after buying an additional 31,116 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV acquired a new position in VanEck Oil Services ETF during the first quarter worth $18,882,000. Arlington Capital Management Inc. bought a new stake in VanEck Oil Services ETF during the second quarter worth $9,317,000. Finally, Cetera Investment Advisers raised its position in VanEck Oil Services ETF by 67.3% during the first quarter. Cetera Investment Advisers now owns 21,094 shares of the company’s stock worth $8,527,000 after acquiring an additional 8,488 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Key VanEck Oil Services ETF News

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

• Positive Sentiment: Crude prices reached multi-month highs, with WTI trading above $107 and Brent also surging, as Middle East tensions raised concerns about supply disruptions. The rally could improve exploration-and-production companies’ cash flows and encourage additional spending on drilling and completions. U.S. oil surges to top $107, Brent crude at five-month high amid Mideast tensions
• Positive Sentiment: North Dakota producers are accelerating well completions as oil prices rise, an indication that higher commodity prices are beginning to translate into increased activity for oilfield-service providers. North Dakota oil companies speed up well completions as prices rise
• Positive Sentiment: An 8.6-million-barrel U.S. crude-inventory draw and higher refinery runs provided additional support for oil prices, reinforcing the near-term bullish backdrop for OIH. Oil Prices Rise on U.S. Crude Draw
• Neutral Sentiment: The International Energy Agency said further emergency stock releases remain possible, although timing is up to individual member countries. Such releases could ease supply fears and cap crude prices, but the policy is not yet certain. IEA ready to go if further oil stocks release needed
• Negative Sentiment: Oil surrendered early gains after reaching a five-month high, while technical analysts warned that the rally could face a significant correction. A gasoline-inventory build also raised questions about refined-fuel demand. Oil prices hit five-month high before reversing gains
• Negative Sentiment: Airline shares rose as crude prices eased, highlighting the market’s immediate sensitivity to any oil pullback. Additional Russian supply and recovering Gulf exports could also limit oil’s upside and weigh on oil-service stocks. Airline stocks rise as oil prices ease

VanEck Oil Services ETF Price Performance

Shares of OIH stock opened at $384.89 on Wednesday. The stock has a market cap of $1.83 billion, a P/E ratio of 10.97 and a beta of 0.96. The company has a fifty day moving average price of $404.09 and a two-hundred day moving average price of $405.25. VanEck Oil Services ETF has a one year low of $256.26 and a one year high of $459.28.

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.