Everstar Asset Management LLC Purchases Shares of 1,842 VanEck Oil Services ETF $OIH

Everstar Asset Management LLC purchased a new position in VanEck Oil Services ETF (NYSEARCA:OIH) in the first quarter, HoldingsChannel.com reports. The firm purchased 1,842 shares of the company’s stock, valued at approximately $745,000.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its position in shares of VanEck Oil Services ETF by 66.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. Wexford Capital LP bought a new position in shares of VanEck Oil Services ETF during the 3rd quarter valued at approximately $27,000. Greykasell Wealth Strategies Inc. purchased a new stake in VanEck Oil Services ETF in the 4th quarter worth approximately $33,000. Empowered Funds LLC bought a new stake in VanEck Oil Services ETF during the 4th quarter worth approximately $34,000. Finally, Advisory Services Network LLC bought a new stake in VanEck Oil Services ETF during the 3rd quarter worth approximately $43,000. Institutional investors own 94.50% of the company’s stock.

VanEck Oil Services ETF Price Performance

Shares of NYSEARCA:OIH opened at $385.49 on Monday. The company has a market capitalization of $2.16 billion, a P/E ratio of 10.97 and a beta of 0.85. VanEck Oil Services ETF has a 1-year low of $226.59 and a 1-year high of $459.28. The firm’s 50 day simple moving average is $425.22 and its two-hundred day simple moving average is $376.25.

Trending Headlines about VanEck Oil Services ETF

Here are the key news stories impacting VanEck Oil Services ETF this week:

• Positive Sentiment: Some analysts and officials said oil flows through Hormuz may recover slowly, which could keep a floor under crude prices in the near term. Oil flows through Hormuz will take time to recover, banks say
• Positive Sentiment: OPEC reiterated a robust long-term demand outlook, saying there is no peak in sight for global oil demand, which supports the case for continued upstream activity over time. OPEC sticks to robust oil demand outlook, sees no peak to 2050
• Neutral Sentiment: Shipping through Hormuz has started to improve, but officials and market watchers said the normalization process could take months and remains sensitive to conditions in the region. Oil shipments rise in Hormuz although questions grow over Iran’s transit terms
• Neutral Sentiment: Industry coverage also noted that focus is shifting from the conflict itself to storage, shipping, and how quickly Gulf producers can ramp exports back up. Hormuz Reopening Shifts Focus to Gulf Oil Storage and Shipping
• Negative Sentiment: Multiple reports said oil prices fell sharply as the Strait of Hormuz reopened or was expected to reopen, with traders pricing in a return of stranded supply and a potential demand-side headwind for energy services stocks. Oil falls as supply starts moving through Strait of Hormuz

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.