VanEck Oil Services ETF (NYSEARCA:OIH) Sees Strong Trading Volume – Should You Buy?

VanEck Oil Services ETF (NYSEARCA:OIHGet Free Report) saw strong trading volume on Tuesday . 303,503 shares traded hands during trading, a decline of 37% from the previous session’s volume of 479,357 shares.The stock last traded at $299.06 and had previously closed at $299.51.

VanEck Oil Services ETF Price Performance

The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 18.96 and a beta of 0.81. The stock’s 50-day moving average is $286.20 and its 200-day moving average is $292.95.

Institutional Investors Weigh In On VanEck Oil Services ETF

Several hedge funds have recently modified their holdings of the stock. Citigroup Inc. grew its stake in shares of VanEck Oil Services ETF by 1,946.8% during the 3rd quarter. Citigroup Inc. now owns 288,356 shares of the company’s stock valued at $81,809,000 after buying an additional 274,268 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in VanEck Oil Services ETF during the fourth quarter valued at about $47,194,000. JPMorgan Chase & Co. increased its stake in VanEck Oil Services ETF by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 1,003,000 shares of the company’s stock worth $284,561,000 after acquiring an additional 154,738 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of VanEck Oil Services ETF by 154.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 127,000 shares of the company’s stock worth $36,031,000 after purchasing an additional 77,000 shares during the period. Finally, Floyd Financial Group LLC acquired a new position in shares of VanEck Oil Services ETF in the 4th quarter valued at about $5,925,000.

About VanEck Oil Services ETF

(Get Free Report)

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.

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