VanEck Oil Services ETF $OIH Stock Bought by International Assets Investment Management LLC

International Assets Investment Management LLC raised its holdings in shares of VanEck Oil Services ETF (NYSEARCA:OIH) by 11,700.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 135,000 shares of the company’s stock after purchasing an additional 133,856 shares during the quarter. International Assets Investment Management LLC’s holdings in VanEck Oil Services ETF were worth $51,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Banque Pictet & Cie SA acquired a new position in VanEck Oil Services ETF during the third quarter worth about $2,834,000. Petra Financial Advisors Inc. purchased a new stake in VanEck Oil Services ETF during the 1st quarter valued at about $7,347,000. Arlington Capital Management Inc. purchased a new stake in VanEck Oil Services ETF during the 2nd quarter valued at about $9,317,000. Tidal Investments LLC grew its stake in VanEck Oil Services ETF by 875.6% during the 2nd quarter. Tidal Investments LLC now owns 6,673 shares of the company’s stock valued at $2,483,000 after acquiring an additional 5,989 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in VanEck Oil Services ETF in the 3rd quarter valued at about $5,055,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

VanEck Oil Services ETF Trading Up 0.9%

OIH stock opened at $411.57 on Friday. The firm has a 50-day moving average of $401.16 and a two-hundred day moving average of $396.43. VanEck Oil Services ETF has a 12 month low of $270.55 and a 12 month high of $459.28. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 21.88 and a beta of 0.97.

VanEck Oil Services ETF News Summary

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

• Positive Sentiment: WTI and Brent crude remain near multi-month highs as falling inventories, Middle East supply risks and continued dip-buying support prices. WTI is approaching resistance near $105-$106.50, while Brent is testing levels above $114. Crude Oil Price Forecast – Oil Continues to Grind Higher
• Positive Sentiment: A tanker attack near the Strait of Hormuz and continuing Houthi and Yemen-related tensions are increasing concerns about disruptions to crude production and shipping, supporting a geopolitical risk premium in oil prices. Crude Oil Price Forecast: WTI, Brent Rise After Hormuz Tanker Attack
• Positive Sentiment: ExxonMobil and Chevron reported better-than-expected third-quarter results and reached record highs, while BP posted $8.5 billion in underlying replacement-cost profit. The results reinforce the earnings strength of large energy producers and the favorable backdrop for oil-service providers. Oil Giants Chevron, ExxonMobil Tap Record Highs After Earnings
• Positive Sentiment: An analyst reiterated a Buy rating on OIH, citing elevated oil prices, supply disruptions and the ETF’s strong correlation with crude. SLB, Baker Hughes and Halliburton represent more than 37% of the fund’s assets. OIH Remains A Buy Despite The Correction
• Neutral Sentiment: Crude’s rally faces technical resistance, and mixed inventory and demand signals could limit near-term gains even as forecasts identify potential breakouts toward $120. WTI Price Forecast: Triangle Breakout Could Extend Above $106.84
• Negative Sentiment: The United States is loaning approximately 40 million barrels from the Strategic Petroleum Reserve under a broader international agreement. Additional supply could temporarily pressure crude prices and weigh on oil-service stocks. US loans 40 million barrels of oil from SPR

VanEck Oil Services ETF 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.