VanEck Oil Services ETF (NYSEARCA:OIH) Sees Strong Trading Volume – Time to Buy?

VanEck Oil Services ETF (NYSEARCA:OIH) shares saw an uptick in trading volume on Tuesday . 303,503 shares were traded during trading, a decline of 37% from the previous session’s volume of 479,357 shares.The stock last traded at $299.06 and had previously closed at $299.51.

VanEck Oil Services ETF Trading Up 0.3 %

The stock has a market capitalization of $1.88 billion, a PE ratio of 18.96 and a beta of 0.81. The firm’s fifty day moving average is $286.20 and its 200-day moving average is $292.95.

Hedge Funds Weigh In On VanEck Oil Services ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in VanEck Oil Services ETF by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 1,003,000 shares of the company’s stock worth $284,561,000 after buying an additional 154,738 shares in the last quarter. Citigroup Inc. lifted its position in shares of VanEck Oil Services ETF by 1,946.8% in the third quarter. Citigroup Inc. now owns 288,356 shares of the company’s stock valued at $81,809,000 after acquiring an additional 274,268 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of VanEck Oil Services ETF in the fourth quarter valued at $47,194,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of VanEck Oil Services ETF by 154.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 127,000 shares of the company’s stock valued at $36,031,000 after acquiring an additional 77,000 shares during the last quarter. Finally, Main Management ETF Advisors LLC increased its position in VanEck Oil Services ETF by 2.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 50,775 shares of the company’s stock worth $16,054,000 after purchasing an additional 1,275 shares in the last quarter.

About VanEck Oil Services ETF

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.