VanEck Oil Services ETF (NYSEARCA:OIH) Hits New 52-Week High – Here’s Why

VanEck Oil Services ETF (NYSEARCA:OIH) reached a new 52-week high during trading on Monday . The stock traded as high as $452.82 and last traded at $452.82, with a volume of 84679 shares changing hands. The stock had previously closed at $440.52.

Key Stories Impacting VanEck Oil Services ETF

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

• Positive Sentiment: Crude prices are strengthening as the Strait of Hormuz remains closed, raising the risk of prolonged supply disruptions and keeping energy markets tight. ‘This is bad’: Strategists see European oil shortages within weeks as inventories are depleted
• Positive Sentiment: The IEA said commercial oil inventories are depleting rapidly, with only a few weeks of supply left, reinforcing the case for higher oil prices and stronger upstream spending. IEA chief Birol: commercial oil inventories depleting rapidly, only weeks left
• Positive Sentiment: Analysts say WTI remains in a bullish breakout pattern near the low $100s as Hormuz-related disruptions continue to threaten global supply. Natural Gas and Oil Forecast: Hormuz Crisis Keeps WTI at $102 — Can Bulls Push to $105?
• Positive Sentiment: Oil extended gains after reports of stalled Iran-U.S. peace talks, a drone attack on a UAE nuclear facility, and warnings from Trump that “the clock is ticking” for Iran. Oil rises more than 1% after drone attack on UAE nuclear power plant
• Neutral Sentiment: Broader market sentiment is also being influenced by rising bond yields and inflation worries, which could temper gains in risk assets even as energy stocks benefit. Rising Oil Prices Are Testing the Tech-Powered Rally. But There’s an Even Greater Threat.

VanEck Oil Services ETF Stock Performance

The firm has a fifty day moving average price of $408.73 and a 200 day moving average price of $351.40. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 10.97 and a beta of 0.89.

Institutional Investors Weigh In On VanEck Oil Services ETF

A number of institutional investors and hedge funds have recently modified their holdings of OIH. NewEdge Advisors LLC raised its holdings in VanEck Oil Services ETF by 30.5% in the 1st quarter. NewEdge Advisors LLC now owns 2,629 shares of the company’s stock valued at $689,000 after acquiring an additional 614 shares during the period. Creative Planning raised its holdings in VanEck Oil Services ETF by 42.9% in the 2nd quarter. Creative Planning now owns 1,150 shares of the company’s stock valued at $265,000 after acquiring an additional 345 shares during the period. Qube Research & Technologies Ltd bought a new position in VanEck Oil Services ETF in the 2nd quarter valued at about $53,000. The Manufacturers Life Insurance Company raised its holdings in VanEck Oil Services ETF by 148.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,244 shares of the company’s stock valued at $1,668,000 after acquiring an additional 4,324 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in VanEck Oil Services ETF by 88.2% in the 2nd quarter. Raymond James Financial Inc. now owns 24,713 shares of the company’s stock valued at $5,691,000 after acquiring an additional 11,583 shares during the period. 94.50% of the stock is owned by institutional investors.

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.