VanEck Oil Services ETF (NYSEARCA:OIH) Hits New 52-Week High – Should You Buy?

Shares of VanEck Oil Services ETF (NYSEARCA:OIH) reached a new 52-week high on Wednesday . The company traded as high as $304.09 and last traded at $302.7620, with a volume of 242605 shares. The stock had previously closed at $292.14.

VanEck Oil Services ETF Trading Down 0.4%

The business has a 50 day moving average of $275.29 and a two-hundred day moving average of $253.41. The firm has a market cap of $1.21 billion, a P/E ratio of 10.97 and a beta of 1.16.

Institutional Trading of VanEck Oil Services ETF

A number of hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia bought a new position in VanEck Oil Services ETF in the 1st quarter valued at about $278,000. Headlands Technologies LLC bought a new position in shares of VanEck Oil Services ETF during the first quarter worth approximately $45,000. HighTower Advisors LLC lifted its holdings in VanEck Oil Services ETF by 6.0% during the 1st quarter. HighTower Advisors LLC now owns 3,945 shares of the company’s stock worth $1,034,000 after purchasing an additional 224 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in VanEck Oil Services ETF by 14.6% during the 1st quarter. Raymond James Financial Inc. now owns 13,130 shares of the company’s stock worth $3,442,000 after purchasing an additional 1,675 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in VanEck Oil Services ETF in the 1st quarter valued at $425,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

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.