VanEck Oil Services ETF (NYSEARCA:OIH) Reaches New 52-Week High – What’s Next?

by · The Cerbat Gem

VanEck Oil Services ETF (NYSEARCA:OIH – Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $304.09 and last traded at $302.7620, with a volume of 242605 shares trading hands. The stock had previously closed at $292.14.

VanEck Oil Services ETF Stock Up 4.1%

The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.97 and a beta of 1.16. The company has a 50-day moving average price of $273.58 and a 200-day moving average price of $252.67.

Hedge Funds Weigh In On VanEck Oil Services ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of VanEck Oil Services ETF by 189.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,542 shares of the company’s stock worth $36,788,000 after acquiring an additional 92,676 shares during the period. Quadrature Capital Ltd increased its position in shares of VanEck Oil Services ETF by 832.2% during the 2nd quarter. Quadrature Capital Ltd now owns 79,947 shares of the company’s stock valued at $18,402,000 after purchasing an additional 71,371 shares during the period. Pureheart Capital Pte Ltd. bought a new stake in shares of VanEck Oil Services ETF in the 3rd quarter worth $12,216,000. Gendell Jeffrey L lifted its holdings in shares of VanEck Oil Services ETF by 34.8% in the second quarter. Gendell Jeffrey L now owns 135,197 shares of the company’s stock valued at $31,135,000 after buying an additional 34,880 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in VanEck Oil Services ETF during the first quarter valued at about $6,741,000. Institutional investors own 94.50% of the company’s stock.

VanEck Oil Services ETF Company Profile

(Get Free Report)

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.

Further Reading