The Manufacturers Life Insurance Company Has $3.89 Million Stake in VanEck Oil Services ETF $OIH

The Manufacturers Life Insurance Company grew its holdings in VanEck Oil Services ETF (NYSEARCA:OIH) by 31.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,627 shares of the company’s stock after purchasing an additional 2,301 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in VanEck Oil Services ETF were worth $3,891,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in OIH. SBI Securities Co. Ltd. lifted its holdings in VanEck Oil Services ETF by 66.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of VanEck Oil Services ETF by 1.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 2,257 shares of the company’s stock worth $643,000 after acquiring an additional 36 shares during the last quarter. Titleist Asset Management LLC lifted its stake in shares of VanEck Oil Services ETF by 5.0% during the fourth quarter. Titleist Asset Management LLC now owns 1,355 shares of the company’s stock valued at $386,000 after acquiring an additional 65 shares during the period. Advisors Preferred LLC acquired a new position in shares of VanEck Oil Services ETF during the first quarter valued at $31,000. Finally, CreativeOne Wealth LLC boosted its holdings in VanEck Oil Services ETF by 6.8% in the third quarter. CreativeOne Wealth LLC now owns 1,415 shares of the company’s stock valued at $368,000 after acquiring an additional 90 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

VanEck Oil Services ETF Stock Down 1.0%

Shares of OIH stock opened at $388.28 on Friday. The stock has a 50-day moving average price of $389.81 and a 200 day moving average price of $394.90. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 10.97 and a beta of 0.88. VanEck Oil Services ETF has a 12 month low of $232.39 and a 12 month high of $459.28.

VanEck Oil Services ETF News Roundup

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

• Positive Sentiment: Concerns about restrictions on shipping through the Strait of Hormuz, including proposed penalties for vessels considered hostile, are raising the risk of prolonged supply disruptions. Higher crude prices generally support demand and pricing for oil-service providers. Oil rises on concerns over Strait of Hormuz reopening plans
• Positive Sentiment: Fresh Houthi-related conflict in Yemen is adding to fears of Middle East supply interruptions, helping WTI and Brent recover. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Houthis Attack Saudi-Backed Forces In Yemen
• Neutral Sentiment: Oil traders are largely holding positions ahead of the U.S. jobs report and developments in Middle East negotiations. The report could influence interest-rate expectations, economic growth forecasts, and fuel demand. Oil Ticks Higher, U.S. Futures Steady Ahead of Jobs Report
• Negative Sentiment: OPEC+’s planned September production increase and a surprise U.S. crude-inventory build are weighing on the supply-demand outlook, limiting the upside for crude and oil-service stocks. Natural Gas and Oil Forecast: OPEC+ Supply Shift, EIA Inventory Build Weigh on Crude
• Negative Sentiment: Progress in Iran-Oman talks has periodically increased optimism that the Strait of Hormuz could reopen and that a broader U.S.-Iran agreement could reduce geopolitical risk. A normalization of flows would remove an important crude-price premium. Oil prices slip as Iran-Oman talks fuel hopes for US-Iran peace deal

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.