Red Cedar Investment Management LLC acquired a new stake in shares of VanEck Oil Services ETF (NYSEARCA:OIH – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 38,339 shares of the company’s stock, valued at approximately $14,506,000. VanEck Oil Services ETF comprises approximately 1.4% of Red Cedar Investment Management LLC’s holdings, making the stock its 18th biggest position. Red Cedar Investment Management LLC owned 0.78% of VanEck Oil Services ETF at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in OIH. Banque Pictet & Cie SA purchased a new position in shares of VanEck Oil Services ETF during the third quarter valued at approximately $2,834,000. Arlington Capital Management Inc. purchased a new stake in VanEck Oil Services ETF in the 2nd quarter valued at $9,317,000. Petra Financial Advisors Inc. bought a new stake in shares of VanEck Oil Services ETF in the 1st quarter worth $7,347,000. Tidal Investments LLC raised its holdings in shares of VanEck Oil Services ETF by 875.6% in the second quarter. Tidal Investments LLC now owns 6,673 shares of the company’s stock valued at $2,483,000 after purchasing an additional 5,989 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of VanEck Oil Services ETF in the third quarter valued at about $662,000. Institutional investors and hedge funds own 94.50% of the company’s stock.
VanEck Oil Services ETF Price Performance
OIH opened at $360.58 on Tuesday. The company’s 50-day moving average is $395.89 and its 200 day moving average is $397.64. VanEck Oil Services ETF has a fifty-two week low of $270.55 and a fifty-two week high of $459.28. The firm has a market capitalization of $1.77 billion, a P/E ratio of 21.88 and a beta of 0.95.
About VanEck Oil Services ETF
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.
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