Red Cedar Investment Management LLC Invests $15.51 Million in VanEck Oil Services ETF $OIH

Red Cedar Investment Management LLC purchased a new position in VanEck Oil Services ETF (NYSEARCA:OIH) in the fourth quarter, HoldingsChannel reports. The fund purchased 54,452 shares of the company’s stock, valued at approximately $15,506,000. VanEck Oil Services ETF makes up about 1.7% of Red Cedar Investment Management LLC’s portfolio, making the stock its 14th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in VanEck Oil Services ETF by 30.5% during 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 in the last quarter. Creative Planning increased 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 purchasing an additional 345 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of VanEck Oil Services ETF in the 2nd quarter valued at about $53,000. The Manufacturers Life Insurance Company raised its stake 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 valued at $1,668,000 after purchasing an additional 4,324 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of VanEck Oil Services ETF by 88.2% during the second quarter. Raymond James Financial Inc. now owns 24,713 shares of the company’s stock worth $5,691,000 after purchasing an additional 11,583 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

VanEck Oil Services ETF News Roundup

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

• Positive Sentiment: U.S. crude inventories fell for an eighth straight week, and gasoline stocks also declined, signaling tighter supply conditions that could support higher oil prices and energy-sector spending. API shows US crude inventories fell for two straight months, sources say
• Positive Sentiment: Geopolitical tension around Iran, Israel, and the Strait of Hormuz has kept a risk premium in crude, with several reports noting supply disruption fears and alternate pipeline planning. That can benefit oil services names if producers prepare for tighter supply. Kuwait’s oil stocks fall as two tankers exit Gulf, Kpler says
• Neutral Sentiment: Several technical market updates say crude is volatile and trading in a range, suggesting oil prices are not yet establishing a clear breakout in either direction. Crude Oil Price Analysis – Oil Continues to See Range Play Out
• Negative Sentiment: Multiple articles say crude has softened as ceasefire hopes and signs of easing Middle East hostilities reduced the geopolitical premium, which could weigh on oil-related equities if prices stay lower. Oil Prices Fall as Iran and Israel Heed Trump’s Call for Ceasefire
• Negative Sentiment: Saudi Arabia cut July crude prices for Asia amid slowing demand, a sign that near-term global demand is cooling and may pressure energy service spending. Saudi Arabia sharply cuts July OSP for Asia amid slow demand

VanEck Oil Services ETF Stock Performance

NYSEARCA:OIH opened at $420.75 on Wednesday. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 10.97 and a beta of 0.85. VanEck Oil Services ETF has a one year low of $226.59 and a one year high of $459.28. The stock has a 50-day simple moving average of $424.25 and a 200 day simple moving average of $369.28.

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.