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

VanEck Oil Services ETF (NYSEARCA:OIH) reached a new 52-week high during trading on Thursday . The company traded as high as $311.09 and last traded at $309.5080, with a volume of 97992 shares changing hands. The stock had previously closed at $308.13.

VanEck Oil Services ETF Price Performance

The company has a market cap of $1.22 billion, a PE ratio of 10.97 and a beta of 1.16. The company’s 50 day simple moving average is $278.56 and its two-hundred day simple moving average is $256.06.

Institutional Trading of VanEck Oil Services ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OIH. JPMorgan Chase & Co. boosted its position in shares of VanEck Oil Services ETF by 189.7% during the third quarter. JPMorgan Chase & Co. now owns 141,542 shares of the company’s stock worth $36,788,000 after buying an additional 92,676 shares during the period. Gendell Jeffrey L boosted its holdings in VanEck Oil Services ETF by 34.8% during the 2nd quarter. Gendell Jeffrey L now owns 135,197 shares of the company’s stock valued at $31,135,000 after acquiring an additional 34,880 shares during the period. Royal Bank of Canada grew its position in VanEck Oil Services ETF by 13.2% in the 1st quarter. Royal Bank of Canada now owns 86,776 shares of the company’s stock valued at $22,747,000 after acquiring an additional 10,093 shares in the last quarter. Quadrature Capital Ltd increased its stake in VanEck Oil Services ETF by 832.2% during the second quarter. Quadrature Capital Ltd now owns 79,947 shares of the company’s stock worth $18,402,000 after purchasing an additional 71,371 shares during the period. Finally, Zuckerman Investment Group LLC lifted its position in shares of VanEck Oil Services ETF by 4.3% during the second quarter. Zuckerman Investment Group LLC now owns 47,422 shares of the company’s stock worth $10,921,000 after purchasing an additional 1,969 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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.