VanEck Oil Refiners ETF (NYSEARCA:CRAK) Sees Strong Trading Volume – Here’s What Happened

Shares of VanEck Oil Refiners ETF (NYSEARCA:CRAK) saw unusually-high trading volume on Wednesday. 529,277 shares were traded during trading, an increase of 88% from the average daily volume of 282,156 shares. The stock last traded at $58.9960 and had previously closed at $60.60.

VanEck Oil Refiners ETF Price Performance

The firm has a market cap of $675.19 million, a price-to-earnings ratio of 13.16 and a beta of 0.58. The firm’s fifty day moving average is $64.13 and its 200-day moving average is $52.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Community Financial Services Group LLC bought a new stake in shares of VanEck Oil Refiners ETF during the 2nd quarter valued at about $29,000. Fifth Third Bancorp bought a new stake in VanEck Oil Refiners ETF in the first quarter worth approximately $40,000. Farther Finance Advisors LLC bought a new stake in VanEck Oil Refiners ETF in the third quarter worth approximately $128,000. Ashton Thomas Private Wealth LLC acquired a new position in VanEck Oil Refiners ETF in the third quarter valued at approximately $134,000. Finally, Simplicity Wealth LLC acquired a new position in VanEck Oil Refiners ETF in the third quarter valued at approximately $216,000.

VanEck Oil Refiners ETF Company Profile

The VanEck Oil Refiners ETF (CRAK) is an exchange-traded fund that is based on the MVIS Global Oil Refiners index. The fund tracks a market-cap index of global stocks issued by firms that earn at least 50% of their revenue from oil refining. CRAK was launched on Aug 18, 2015 and is managed by VanEck.