The Manufacturers Life Insurance Company Has $3.89 Million Stock Position in VanEck Oil Services ETF $OIH

The Manufacturers Life Insurance Company grew its holdings in shares of VanEck Oil Services ETF (NYSEARCA:OIH) by 31.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,627 shares of the company’s stock after purchasing an additional 2,301 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.17% of VanEck Oil Services ETF worth $3,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of OIH. SBI Securities Co. Ltd. boosted its holdings in VanEck Oil Services ETF by 66.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Wexford Capital LP bought a new position in VanEck Oil Services ETF during the third quarter valued at about $27,000. Advisors Preferred LLC bought a new position in VanEck Oil Services ETF during the first quarter valued at about $31,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of VanEck Oil Services ETF in the fourth quarter worth about $33,000. Finally, Empowered Funds LLC acquired a new stake in shares of VanEck Oil Services ETF in the fourth quarter worth about $34,000. Institutional investors own 94.50% of the company’s stock.

More VanEck Oil Services ETF News

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

• Positive Sentiment: Concerns about restrictions on shipping through the Strait of Hormuz, including proposed penalties for vessels considered hostile, are raising the risk of prolonged supply disruptions. Higher crude prices generally support demand and pricing for oil-service providers. Oil rises on concerns over Strait of Hormuz reopening plans
• Positive Sentiment: Fresh Houthi-related conflict in Yemen is adding to fears of Middle East supply interruptions, helping WTI and Brent recover. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Houthis Attack Saudi-Backed Forces In Yemen
• Neutral Sentiment: Oil traders are largely holding positions ahead of the U.S. jobs report and developments in Middle East negotiations. The report could influence interest-rate expectations, economic growth forecasts, and fuel demand. Oil Ticks Higher, U.S. Futures Steady Ahead of Jobs Report
• Negative Sentiment: OPEC+’s planned September production increase and a surprise U.S. crude-inventory build are weighing on the supply-demand outlook, limiting the upside for crude and oil-service stocks. Natural Gas and Oil Forecast: OPEC+ Supply Shift, EIA Inventory Build Weigh on Crude
• Negative Sentiment: Progress in Iran-Oman talks has periodically increased optimism that the Strait of Hormuz could reopen and that a broader U.S.-Iran agreement could reduce geopolitical risk. A normalization of flows would remove an important crude-price premium. Oil prices slip as Iran-Oman talks fuel hopes for US-Iran peace deal

VanEck Oil Services ETF Stock Performance

OIH opened at $388.28 on Friday. The company has a market cap of $1.92 billion, a PE ratio of 10.97 and a beta of 0.88. The stock has a 50-day moving average of $389.81 and a 200-day moving average of $394.90. VanEck Oil Services ETF has a 52-week low of $232.39 and a 52-week high of $459.28.

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.