1,750 Shares in VanEck Oil Services ETF $OIH Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. acquired a new stake in VanEck Oil Services ETF (NYSEARCA:OIH) in the third quarter, HoldingsChannel.com reports. The fund acquired 1,750 shares of the company’s stock, valued at approximately $662,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Pictet & Cie SA bought a new stake in VanEck Oil Services ETF in the 3rd quarter valued at $2,834,000. Columbia Advisory Partners LLC lifted its holdings in VanEck Oil Services ETF by 46.9% during the 3rd quarter. Columbia Advisory Partners LLC now owns 3,274 shares of the company’s stock valued at $1,239,000 after purchasing an additional 1,045 shares during the last quarter. BigSur Wealth Management LLC bought a new position in VanEck Oil Services ETF during the third quarter worth $1,572,000. B. Riley Wealth Advisors Inc. bought a new position in VanEck Oil Services ETF during the third quarter worth $5,055,000. Finally, Farther Finance Advisors LLC boosted its position in VanEck Oil Services ETF by 35,783.3% during the third quarter. Farther Finance Advisors LLC now owns 2,153 shares of the company’s stock worth $815,000 after purchasing an additional 2,147 shares during the period. 94.50% of the stock is currently owned by institutional investors.

VanEck Oil Services ETF News Summary

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

• Positive Sentiment: Crude prices reached multi-month highs, with WTI trading above $107 and Brent also surging, as Middle East tensions raised concerns about supply disruptions. The rally could improve exploration-and-production companies’ cash flows and encourage additional spending on drilling and completions. U.S. oil surges to top $107, Brent crude at five-month high amid Mideast tensions
• Positive Sentiment: North Dakota producers are accelerating well completions as oil prices rise, an indication that higher commodity prices are beginning to translate into increased activity for oilfield-service providers. North Dakota oil companies speed up well completions as prices rise
• Positive Sentiment: An 8.6-million-barrel U.S. crude-inventory draw and higher refinery runs provided additional support for oil prices, reinforcing the near-term bullish backdrop for OIH. Oil Prices Rise on U.S. Crude Draw
• Neutral Sentiment: The International Energy Agency said further emergency stock releases remain possible, although timing is up to individual member countries. Such releases could ease supply fears and cap crude prices, but the policy is not yet certain. IEA ready to go if further oil stocks release needed
• Negative Sentiment: Oil surrendered early gains after reaching a five-month high, while technical analysts warned that the rally could face a significant correction. A gasoline-inventory build also raised questions about refined-fuel demand. Oil prices hit five-month high before reversing gains
• Negative Sentiment: Airline shares rose as crude prices eased, highlighting the market’s immediate sensitivity to any oil pullback. Additional Russian supply and recovering Gulf exports could also limit oil’s upside and weigh on oil-service stocks. Airline stocks rise as oil prices ease

VanEck Oil Services ETF Price Performance

NYSEARCA:OIH opened at $384.89 on Wednesday. The company has a market cap of $1.83 billion, a P/E ratio of 10.97 and a beta of 0.96. The firm’s fifty day moving average price is $404.09 and its two-hundred day moving average price is $405.25. VanEck Oil Services ETF has a one year low of $256.26 and a one year 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.