Traders Purchase Large Volume of VanEck Oil Services ETF Put Options (NYSEARCA:OIH)

VanEck Oil Services ETF (NYSEARCA:OIH) was the target of some unusual options trading activity on Wednesday. Stock traders bought 25,426 put options on the stock. This is an increase of 322% compared to the average daily volume of 6,023 put options.

Institutional Investors Weigh In On VanEck Oil Services ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OIH. Beacon Pointe Advisors LLC lifted its position in VanEck Oil Services ETF by 14.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 872 shares of the company’s stock worth $270,000 after buying an additional 110 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of VanEck Oil Services ETF during the 4th quarter valued at $281,000. Corient Private Wealth LLC bought a new position in shares of VanEck Oil Services ETF during the 4th quarter valued at $566,000. Advisory Services Network LLC bought a new position in shares of VanEck Oil Services ETF during the 4th quarter valued at $799,000. Finally, Focus Financial Network Inc. ADV bought a new position in shares of VanEck Oil Services ETF during the 4th quarter valued at $494,000.

VanEck Oil Services ETF Stock Performance

VanEck Oil Services ETF stock opened at $290.92 on Friday. The company has a 50 day moving average price of $302.42 and a 200 day moving average price of $313.65. VanEck Oil Services ETF has a 52 week low of $262.18 and a 52 week high of $359.55. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 18.96 and a beta of 0.81.

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.