VanEck Oil Refiners ETF (NYSEARCA:CRAK) Sees Strong Trading Volume – Here’s Why

VanEck Oil Refiners ETF (NYSEARCA:CRAK) saw unusually-high trading volume on Wednesday. Approximately 529,277 shares were traded during mid-day trading, an increase of 88% from the average daily volume of 282,156 shares. The stock last traded at $58.9960 and had previously closed at $60.60.

VanEck Oil Refiners ETF Stock Down 1.8%

The firm has a 50-day simple moving average of $64.07 and a 200-day simple moving average of $52.72. The stock has a market cap of $641.69 million, a PE ratio of 13.16 and a beta of 0.58.

Institutional Investors Weigh In On VanEck Oil Refiners ETF

Several hedge funds and other institutional investors have recently modified their holdings of CRAK. Community Financial Services Group LLC purchased a new position in VanEck Oil Refiners ETF during the second quarter worth about $29,000. Fifth Third Bancorp purchased a new position in shares of VanEck Oil Refiners ETF during the first quarter worth about $40,000. Allworth Financial LP purchased a new position in shares of VanEck Oil Refiners ETF during the third quarter worth about $89,000. Farther Finance Advisors LLC bought a new position in shares of VanEck Oil Refiners ETF in the third quarter worth approximately $128,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of VanEck Oil Refiners ETF in the third quarter worth approximately $134,000.

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.