VanEck Oil Refiners ETF (NYSEARCA:CRAK) Sees Large Volume Increase – What’s Next?

Shares of VanEck Oil Refiners ETF (NYSEARCA:CRAK) saw unusually-strong trading volume on Wednesday. 308,934 shares traded hands during trading, an increase of 16% from the average daily volume of 267,154 shares. The stock last traded at $61.49 and had previously closed at $62.18.

VanEck Oil Refiners ETF Stock Performance

The company has a market cap of $753.13 million, a P/E ratio of 13.16 and a beta of 0.56. The firm has a 50 day moving average price of $64.02 and a 200-day moving average price of $51.99.

Institutional Investors Weigh In On VanEck Oil Refiners ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRAK. Ayalon Insurance Comp Ltd. bought a new stake in VanEck Oil Refiners ETF during the third quarter worth approximately $16,054,000. Journey Advisory Group LLC raised its position in shares of VanEck Oil Refiners ETF by 135.5% in the first quarter. Journey Advisory Group LLC now owns 233,373 shares of the company’s stock valued at $11,529,000 after purchasing an additional 134,273 shares during the period. Convergence Financial LLC acquired a new stake in shares of VanEck Oil Refiners ETF in the third quarter worth $3,551,000. The Manufacturers Life Insurance Company acquired a new stake in shares of VanEck Oil Refiners ETF in the first quarter worth $1,792,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of VanEck Oil Refiners ETF in the first quarter worth $1,077,000.

VanEck Oil Refiners ETF Company Profile

The VanEck Oil Refiners ETF (CRAK) is an exchange-traded fund that is based on the MVIS Global Oil Refiners index. The fund tracks a market-cap index of global stocks issued by firms that earn at least 50% of their revenue from oil refining. CRAK was launched on Aug 18, 2015 and is managed by VanEck.