VanEck Oil Services ETF (NYSEARCA:OIH) Hits New 1-Year High – Time to Buy?

VanEck Oil Services ETF (NYSEARCA:OIH) hit a new 52-week high during trading on Wednesday . The company traded as high as $304.09 and last traded at $302.7620, with a volume of 242605 shares. The stock had previously closed at $292.14.

VanEck Oil Services ETF Price Performance

The company has a market cap of $1.20 billion, a PE ratio of 10.97 and a beta of 1.16. The company has a 50-day moving average price of $273.58 and a two-hundred day moving average price of $252.67.

Institutional Trading of VanEck Oil Services ETF

Several institutional investors have recently added to or reduced their stakes in OIH. JPMorgan Chase & Co. boosted its holdings in shares of VanEck Oil Services ETF by 189.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,542 shares of the company’s stock valued at $36,788,000 after buying an additional 92,676 shares during the period. Quadrature Capital Ltd raised its position in shares of VanEck Oil Services ETF by 832.2% during the 2nd quarter. Quadrature Capital Ltd now owns 79,947 shares of the company’s stock worth $18,402,000 after purchasing an additional 71,371 shares during the period. Pureheart Capital Pte Ltd. bought a new stake in shares of VanEck Oil Services ETF in the 3rd quarter worth approximately $12,216,000. Gendell Jeffrey L grew its stake in VanEck Oil Services ETF by 34.8% during the 2nd quarter. Gendell Jeffrey L now owns 135,197 shares of the company’s stock worth $31,135,000 after buying an additional 34,880 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in VanEck Oil Services ETF in the first quarter worth $6,741,000. Institutional investors own 94.50% of the company’s stock.

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.