Investors Buy High Volume of Put Options on VanEck Oil Services ETF (NYSEARCA:OIH)

VanEck Oil Services ETF (NYSEARCA:OIH) was the recipient of some unusual options trading on Tuesday. Traders purchased 8,013 put options on the stock. This is an increase of 47% compared to the typical daily volume of 5,453 put options.

Institutional Trading of VanEck Oil Services ETF

Several hedge funds and other institutional investors have recently made changes to their positions in OIH. Tidal Investments LLC bought a new position in shares of VanEck Oil Services ETF in the third quarter worth approximately $312,000. Savoie Capital LLC bought a new position in VanEck Oil Services ETF in the 3rd quarter valued at approximately $5,617,000. Kovitz Investment Group Partners LLC purchased a new stake in VanEck Oil Services ETF during the 3rd quarter valued at $312,000. IHT Wealth Management LLC increased its holdings in shares of VanEck Oil Services ETF by 95.4% in the 3rd quarter. IHT Wealth Management LLC now owns 1,327 shares of the company’s stock worth $381,000 after purchasing an additional 648 shares in the last quarter. Finally, Hollow Brook Wealth Management LLC raised its stake in shares of VanEck Oil Services ETF by 4.1% in the third quarter. Hollow Brook Wealth Management LLC now owns 23,448 shares of the company’s stock worth $6,652,000 after purchasing an additional 916 shares during the last quarter.

VanEck Oil Services ETF Stock Performance

Shares of OIH traded down $4.98 on Tuesday, reaching $275.37. The stock had a trading volume of 420,398 shares, compared to its average volume of 486,097. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 18.96 and a beta of 0.81. The company has a 50-day simple moving average of $290.49 and a 200-day simple moving average of $298.42. VanEck Oil Services ETF has a 12-month low of $262.18 and a 12-month high of $353.25.

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.