Traders Purchase Large Volume of VanEck Oil Services ETF Call Options (NYSEARCA:OIH)

VanEck Oil Services ETF (NYSEARCA:OIH) was the recipient of some unusual options trading on Monday. Investors acquired 9,290 call options on the stock. This represents an increase of approximately 819% compared to the average daily volume of 1,011 call options.

Key VanEck Oil Services ETF News

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

• Positive Sentiment: Oil prices surged and remained volatile after missile exchanges between Israel and Iran, lifting the outlook for drilling, pressure pumping, and other oilfield services businesses that make up OIH. Oil Rises on Israel-Iran Escalation, U.S. Tech Futures Climb
• Positive Sentiment: Analysts said crude could test the $100 level as the Israel-Iran conflict escalates, reinforcing a higher-price backdrop for energy-service demand. Oil News: Crude Futures Eye 100 as Iran-Israel Conflict Escalates
• Positive Sentiment: Supply-disruption fears increased after the Houthis threatened Red Sea shipping and broader Middle East tensions threatened energy flows, another supportive factor for oil-service equities. Explainer: Why are the Houthis threatening to attack Red Sea shipping and what does it mean for oil markets?
• Neutral Sentiment: Saudi Arabia cut July crude prices for Asia, reflecting softer demand in that region, which could partially offset the bullish impact of geopolitics on oil prices. Saudi Arabia Cuts July Crude Prices for Asia As Demand Slows
• Neutral Sentiment: OPEC+ still plans only a modest July output-target increase, so the supply backdrop is not loosening enough to fully reverse the oil-price rally. OPEC+ to make small oil output quota hike for July

VanEck Oil Services ETF Stock Up 3.5%

Shares of OIH stock traded up $14.71 during mid-day trading on Monday, reaching $429.41. The stock had a trading volume of 107,537 shares, compared to its average volume of 560,976. The firm’s 50 day simple moving average is $423.83 and its 200 day simple moving average is $367.28. VanEck Oil Services ETF has a one year low of $226.59 and a one year high of $459.28. The firm has a market cap of $2.40 billion, a PE ratio of 10.97 and a beta of 0.85.

Institutional Trading of VanEck Oil Services ETF

A number of hedge funds have recently modified their holdings of OIH. NewEdge Advisors LLC lifted its position in shares of VanEck Oil Services ETF by 30.5% in the 1st quarter. NewEdge Advisors LLC now owns 2,629 shares of the company’s stock worth $689,000 after acquiring an additional 614 shares during the period. Creative Planning lifted its position in shares of VanEck Oil Services ETF by 42.9% in the 2nd quarter. Creative Planning now owns 1,150 shares of the company’s stock worth $265,000 after acquiring an additional 345 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of VanEck Oil Services ETF in the 2nd quarter worth approximately $53,000. The Manufacturers Life Insurance Company lifted its position in shares of VanEck Oil Services ETF by 148.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,244 shares of the company’s stock worth $1,668,000 after acquiring an additional 4,324 shares during the period. Finally, Raymond James Financial Inc. lifted its position in shares of VanEck Oil Services ETF by 88.2% in the 2nd quarter. Raymond James Financial Inc. now owns 24,713 shares of the company’s stock worth $5,691,000 after acquiring an additional 11,583 shares during the period. 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.