1,428 Shares of VanEck Oil Services ETF $OIH Bought by Lyell Wealth Management LP

Lyell Wealth Management LP purchased a new position in shares of VanEck Oil Services ETF (NYSEARCA:OIH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,428 shares of the company’s stock, valued at approximately $540,000.

A number of other hedge funds also recently added to or reduced their stakes in OIH. Banque Pictet & Cie SA purchased a new position in VanEck Oil Services ETF during the 3rd quarter worth $2,834,000. Arlington Capital Management Inc. acquired a new position in shares of VanEck Oil Services ETF during the second quarter worth about $9,317,000. Petra Financial Advisors Inc. purchased a new position in VanEck Oil Services ETF during the first quarter worth about $7,347,000. Tidal Investments LLC increased its position 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 worth $2,483,000 after purchasing an additional 5,989 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in VanEck Oil Services ETF during the 3rd quarter worth approximately $5,055,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting VanEck Oil Services ETF

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

• Positive Sentiment: OPEC+ kept December output steady and maintained its production cuts amid Iran-related disruptions. Restrained supply and firmer crude prices could support demand for oilfield services. OPEC+ Holds Output Steady, Maintains 2M BPD Cuts: ETFs in Focus
• Positive Sentiment: U.S. commercial crude inventories fell for a fifth consecutive week, and distillate stocks reached their lowest level in more than two decades—evidence of tightness that may support energy prices and service activity. U.S. Crude Oil Stockpiles Post Fifth Straight Weekly Drop
• Neutral Sentiment: The U.S. plans to loan about a third of its heating-oil reserve to help tame prices. The move may ease fuel tightness, though it does not directly signal a change in oil-services demand. US to loan about a third of heating oil reserve in bid to tame prices
• Negative Sentiment: JPMorgan sees rising exports and weak demand pushing the global oil market into surplus. Reports of unsold Nigerian cargoes and easing oil prices reinforce concerns that near-term activity and investment could soften. JPMorgan says rising exports, weak demand push global oil market into surplus Physical Oil Just Went From a Bidding War to a Fire Sale
• Negative Sentiment: Oil-services executives said the Iran crisis is raising shipping, fuel, and security costs, pressuring Middle Eastern contract economics. OIH also faced a technical headwind after breaking below its 200-day moving average. Oil services firms face major cost pressure from Iran crisis, execs say VanEck Oil Services ETF Share Price Breaks Below 200 Day Moving Average

VanEck Oil Services ETF Trading Down 4.9%

Shares of OIH stock opened at $366.06 on Thursday. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 21.88 and a beta of 0.95. VanEck Oil Services ETF has a 12-month low of $270.55 and a 12-month high of $459.28. The stock has a 50 day simple moving average of $399.37 and a 200-day simple moving average of $397.27.

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.