Zweig DiMenna Associates LLC Cuts Holdings in VanEck Oil Services ETF $OIH

Zweig DiMenna Associates LLC cut its position in shares of VanEck Oil Services ETF (NYSEARCA:OIH) by 69.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,000 shares of the company’s stock after selling 9,200 shares during the quarter. Zweig DiMenna Associates LLC owned approximately 0.10% of VanEck Oil Services ETF worth $921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OIH. Jones Financial Companies Lllp purchased a new position in VanEck Oil Services ETF during the first quarter worth about $6,741,000. Twin Tree Management LP boosted its stake in VanEck Oil Services ETF by 811.1% in the second quarter. Twin Tree Management LP now owns 23,342 shares of the company’s stock valued at $5,375,000 after acquiring an additional 20,780 shares during the last quarter. Sprott Inc. boosted its stake in VanEck Oil Services ETF by 106.9% in the first quarter. Sprott Inc. now owns 1,124 shares of the company’s stock valued at $295,000 after acquiring an additional 17,300 shares during the last quarter. Royal Bank of Canada boosted its stake in VanEck Oil Services ETF by 13.2% in the first quarter. Royal Bank of Canada now owns 86,776 shares of the company’s stock valued at $22,747,000 after acquiring an additional 10,093 shares during the last quarter. Finally, Crosspoint Financial LLC purchased a new position in VanEck Oil Services ETF in the first quarter valued at about $1,025,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

VanEck Oil Services ETF Stock Down 1.0%

OIH opened at $283.69 on Friday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 10.97 and a beta of 1.16. VanEck Oil Services ETF has a twelve month low of $191.21 and a twelve month high of $311.28. The company’s 50-day moving average price is $260.60 and its two-hundred day moving average price is $242.15.

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.