Ocean Park Asset Management LLC Sells 3,300 Shares of VanEck Oil Services ETF $OIH

Ocean Park Asset Management LLC reduced its position in VanEck Oil Services ETF (NYSEARCA:OIH) by 36.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,718 shares of the company’s stock after selling 3,300 shares during the quarter. Ocean Park Asset Management LLC owned approximately 0.11% of VanEck Oil Services ETF worth $2,311,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in VanEck Oil Services ETF by 5.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 609,000 shares of the company’s stock valued at $173,425,000 after buying an additional 31,000 shares during the period. Morgan Stanley lifted its holdings in shares of VanEck Oil Services ETF by 6.2% during the 4th quarter. Morgan Stanley now owns 455,222 shares of the company’s stock worth $129,634,000 after acquiring an additional 26,633 shares during the period. Employees Provident Fund Board acquired a new stake in shares of VanEck Oil Services ETF during the 4th quarter valued at about $69,336,000. Wells Fargo & Company MN boosted its position in shares of VanEck Oil Services ETF by 9.7% during the 4th quarter. Wells Fargo & Company MN now owns 188,675 shares of the company’s stock valued at $53,729,000 after acquiring an additional 16,625 shares in the last quarter. Finally, Gendell Jeffrey L boosted its position in shares of VanEck Oil Services ETF by 79.9% during the 4th quarter. Gendell Jeffrey L now owns 146,532 shares of the company’s stock valued at $41,728,000 after acquiring an additional 65,084 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Trending Headlines about VanEck Oil Services ETF

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

• Positive Sentiment: Some analysts and officials said oil flows through Hormuz may recover slowly, which could keep a floor under crude prices in the near term. Oil flows through Hormuz will take time to recover, banks say
• Positive Sentiment: OPEC reiterated a robust long-term demand outlook, saying there is no peak in sight for global oil demand, which supports the case for continued upstream activity over time. OPEC sticks to robust oil demand outlook, sees no peak to 2050
• Neutral Sentiment: Shipping through Hormuz has started to improve, but officials and market watchers said the normalization process could take months and remains sensitive to conditions in the region. Oil shipments rise in Hormuz although questions grow over Iran’s transit terms
• Neutral Sentiment: Industry coverage also noted that focus is shifting from the conflict itself to storage, shipping, and how quickly Gulf producers can ramp exports back up. Hormuz Reopening Shifts Focus to Gulf Oil Storage and Shipping
• Negative Sentiment: Multiple reports said oil prices fell sharply as the Strait of Hormuz reopened or was expected to reopen, with traders pricing in a return of stranded supply and a potential demand-side headwind for energy services stocks. Oil falls as supply starts moving through Strait of Hormuz

VanEck Oil Services ETF Price Performance

NYSEARCA OIH opened at $385.49 on Monday. The stock has a market cap of $2.16 billion, a P/E ratio of 10.97 and a beta of 0.85. The company’s 50-day simple moving average is $425.22 and its 200 day simple moving average is $376.25. VanEck Oil Services ETF has a twelve month low of $226.59 and a twelve month high of $459.28.

VanEck Oil Services ETF Company Profile

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.