Continuum Advisory LLC Takes $607,000 Position in VanEck Oil Services ETF $OIH

Continuum Advisory LLC purchased a new stake in VanEck Oil Services ETF (NYSEARCA:OIH) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,502 shares of the company’s stock, valued at approximately $607,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its stake in VanEck Oil Services ETF by 30.5% during the first quarter. NewEdge Advisors LLC now owns 2,629 shares of the company’s stock worth $689,000 after acquiring an additional 614 shares during the last quarter. Creative Planning lifted its stake in shares of VanEck Oil Services ETF by 42.9% in the 2nd quarter. Creative Planning now owns 1,150 shares of the company’s stock valued at $265,000 after purchasing an additional 345 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of VanEck Oil Services ETF in the 2nd quarter valued at approximately $53,000. The Manufacturers Life Insurance Company boosted its holdings in shares of VanEck Oil Services ETF by 148.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,244 shares of the company’s stock worth $1,668,000 after purchasing an additional 4,324 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of VanEck Oil Services ETF by 88.2% in the 2nd quarter. Raymond James Financial Inc. now owns 24,713 shares of the company’s stock worth $5,691,000 after purchasing an additional 11,583 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

VanEck Oil Services ETF Stock Performance

NYSEARCA OIH opened at $372.98 on Tuesday. The company has a market cap of $2.09 billion, a P/E ratio of 10.97 and a beta of 0.85. The business’s 50 day moving average price is $421.74 and its 200-day moving average price is $379.46. VanEck Oil Services ETF has a fifty-two week low of $227.68 and a fifty-two week high of $459.28.

Key Stories Impacting VanEck Oil Services ETF

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

• Positive Sentiment: Middle East producers are still pushing ahead with oil and LNG loadings despite ship attacks, which helps limit the risk of a major supply shock and keeps some energy-market activity elevated. Middle East producers push on with oil, LNG loadings despite ship attacks
• Positive Sentiment: Oil prices rose late last week and into Monday as renewed U.S.-Iran tensions raised supply-disruption concerns, which can support oilfield service names if sustained. Oil climbs following renewed US, Iran strikes in Middle East
• Neutral Sentiment: Wall Street analysts are cutting long-term oil price forecasts, saying weaker demand may outweigh geopolitical risks, which points to a more subdued outlook for the energy complex. Why Wall Street Thinks Cheap Oil Is Here to Stay
• Neutral Sentiment: The U.S. Strategic Petroleum Reserve fell to its lowest level since 1983, a datapoint that highlights tight government inventories but does not by itself guarantee a near-term boost for services demand. Oil stocks in US Strategic Petroleum Reserve fall by 5.5 million to lowest level since 1983
• Negative Sentiment: Market commentary is increasingly focused on oversupply, with a White House economist warning that “more oil” is coming and prices are likely to drop, a headwind for oil-services shares. White House Economist: ‘More Oil Than You’ve Ever Seen’ Is Coming, and Prices Are About to Drop
• Negative Sentiment: Recent crude forecasts and technical analysis suggest WTI and Brent are under renewed selling pressure as the geopolitical risk premium fades, which is a bearish signal for OIH. Natural Gas and Oil Forecast: WTI Under $71 While Brent Tests $73 — NatGas Channel Momentum?

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.