VanEck Oil Services ETF (NYSEARCA:OIH) Sets New 12-Month Low – Here’s Why

VanEck Oil Services ETF (NYSEARCA:OIH) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $261.05 and last traded at $265.16, with a volume of 17365 shares. The stock had previously closed at $263.91.

VanEck Oil Services ETF Stock Up 0.4 %

The company has a 50-day moving average of $288.35 and a 200 day moving average of $297.35. The firm has a market capitalization of $1.66 billion, a PE ratio of 18.96 and a beta of 0.81.

Hedge Funds Weigh In On VanEck Oil Services ETF

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of VanEck Oil Services ETF by 3.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,618 shares of the company’s stock worth $512,000 after buying an additional 58 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in VanEck Oil Services ETF by 3.8% in the third quarter. Nations Financial Group Inc. IA ADV now owns 1,636 shares of the company’s stock valued at $464,000 after acquiring an additional 60 shares during the period. National Wealth Management Group LLC boosted its position in VanEck Oil Services ETF by 8.1% in the 3rd quarter. National Wealth Management Group LLC now owns 857 shares of the company’s stock worth $243,000 after purchasing an additional 64 shares in the last quarter. SilverOak Wealth Management LLC grew its stake in shares of VanEck Oil Services ETF by 9.7% during the 3rd quarter. SilverOak Wealth Management LLC now owns 738 shares of the company’s stock worth $209,000 after purchasing an additional 65 shares during the period. Finally, Pettinga Financial Advisors LLC grew its stake in shares of VanEck Oil Services ETF by 8.0% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 950 shares of the company’s stock worth $270,000 after purchasing an additional 70 shares during the period.

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.