Traders Buy High Volume of VanEck Oil Services ETF Put Options (NYSEARCA:OIH)

VanEck Oil Services ETF (NYSEARCA:OIH) saw unusually large options trading activity on Tuesday. Stock traders bought 8,013 put options on the stock. This is an increase of 47% compared to the average daily volume of 5,453 put options.

VanEck Oil Services ETF Trading Down 1.4 %

Shares of NYSEARCA:OIH opened at $276.45 on Wednesday. The company has a 50 day moving average of $290.49 and a 200 day moving average of $298.42. The stock has a market cap of $1.73 billion, a P/E ratio of 18.96 and a beta of 0.81. VanEck Oil Services ETF has a 12 month low of $262.18 and a 12 month high of $353.25.

Hedge Funds Weigh In On VanEck Oil Services ETF

A number of institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of VanEck Oil Services ETF by 3.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,618 shares of the company’s stock worth $512,000 after purchasing an additional 58 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in VanEck Oil Services ETF during the second quarter valued at approximately $275,000. Rockland Trust Co. grew its stake in VanEck Oil Services ETF by 20.7% in the 2nd quarter. Rockland Trust Co. now owns 5,682 shares of the company’s stock worth $1,797,000 after buying an additional 974 shares in the last quarter. Pettinga Financial Advisors LLC increased its holdings in shares of VanEck Oil Services ETF by 38.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 880 shares of the company’s stock worth $278,000 after buying an additional 245 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of VanEck Oil Services ETF by 22.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,100 shares of the company’s stock valued at $348,000 after buying an additional 200 shares in the last quarter.

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.