VanEck Oil Services ETF (NYSEARCA:OIH) Sets New 1-Year High – Should You Buy?

VanEck Oil Services ETF (NYSEARCA:OIHGet Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $400.44 and last traded at $392.55, with a volume of 673123 shares trading hands. The stock had previously closed at $389.55.

Key Headlines Impacting VanEck Oil Services ETF

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

VanEck Oil Services ETF Stock Performance

The stock’s 50 day simple moving average is $331.12 and its 200 day simple moving average is $290.38. The firm has a market cap of $2.34 billion, a PE ratio of 10.97 and a beta of 1.16.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OIH. NewEdge Advisors LLC lifted its stake in VanEck Oil Services ETF by 30.5% during the first quarter. NewEdge Advisors LLC now owns 2,629 shares of the company’s stock worth $689,000 after purchasing an additional 614 shares during the last quarter. Wealthfront Advisers LLC increased its position in shares of VanEck Oil Services ETF by 19.3% during the 2nd quarter. Wealthfront Advisers LLC now owns 3,014 shares of the company’s stock valued at $694,000 after purchasing an additional 488 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of VanEck Oil Services ETF by 30.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,433 shares of the company’s stock valued at $560,000 after buying an additional 570 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in VanEck Oil Services ETF in the 2nd quarter worth approximately $270,000. Finally, Fidelis Capital Partners LLC bought a new stake in VanEck Oil Services ETF in the 2nd quarter worth approximately $208,000. Institutional investors own 94.50% of the company’s stock.

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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