VanEck Oil Refiners ETF (NYSEARCA:CRAK) Sees Large Volume Increase – Time to Buy?

VanEck Oil Refiners ETF (NYSEARCA:CRAK) shares saw unusually-high trading volume on Wednesday. 308,934 shares changed hands during trading, an increase of 16% from the average daily volume of 267,154 shares. The stock last traded at $61.49 and had previously closed at $62.18.

VanEck Oil Refiners ETF Stock Performance

The company has a 50-day moving average price of $64.07 and a 200-day moving average price of $52.22. The firm has a market capitalization of $747.86 million, a P/E ratio of 13.16 and a beta of 0.56.

Institutional Investors Weigh In On VanEck Oil Refiners ETF

Large investors have recently added to or reduced their stakes in the business. Community Financial Services Group LLC bought a new position in VanEck Oil Refiners ETF in the 2nd quarter valued at about $29,000. Fifth Third Bancorp bought a new position in shares of VanEck Oil Refiners ETF during the first quarter worth approximately $40,000. Farther Finance Advisors LLC bought a new position in shares of VanEck Oil Refiners ETF during the third quarter worth approximately $128,000. Simplicity Wealth LLC acquired a new stake in VanEck Oil Refiners ETF during the 3rd quarter worth approximately $216,000. Finally, Sigma Planning Corp acquired a new stake in VanEck Oil Refiners ETF during the 3rd quarter worth approximately $220,000.

About VanEck Oil Refiners ETF

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.