VanEck Oil Services ETF (NYSEARCA:OIH) Sees Large Volume Increase – Time to Buy?

VanEck Oil Services ETF (NYSEARCA:OIH) saw strong trading volume on Tuesday . 638,038 shares were traded during mid-day trading, an increase of 39% from the previous session’s volume of 457,732 shares.The stock last traded at $287.98 and had previously closed at $283.71.

VanEck Oil Services ETF Stock Up 2.2 %

The company has a market cap of $1.87 billion, a P/E ratio of 18.96 and a beta of 0.81. The firm’s 50-day moving average price is $295.19 and its 200-day moving average price is $312.12.

Hedge Funds Weigh In On VanEck Oil Services ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gendell Jeffrey L grew its position in VanEck Oil Services ETF by 384.3% during the fourth quarter. Gendell Jeffrey L now owns 278,500 shares of the company’s stock valued at $86,201,000 after acquiring an additional 221,000 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of VanEck Oil Services ETF by 1,219.9% during the first quarter. Jane Street Group LLC now owns 131,307 shares of the company’s stock valued at $44,162,000 after acquiring an additional 121,359 shares in the last quarter. Cetera Investment Advisers boosted its holdings in VanEck Oil Services ETF by 13,939.1% in the first quarter. Cetera Investment Advisers now owns 107,680 shares of the company’s stock valued at $36,216,000 after acquiring an additional 106,913 shares in the last quarter. Caxton Associates LP purchased a new position in VanEck Oil Services ETF during the 1st quarter valued at $10,665,000. Finally, Tower Research Capital LLC TRC raised its holdings in VanEck Oil Services ETF by 128.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 39,165 shares of the company’s stock worth $12,122,000 after purchasing an additional 21,995 shares in the last quarter.

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.