Red Cedar Investment Management LLC bought a new stake in shares of VanEck Oil Services ETF (NYSEARCA:OIH – Free Report) in the third quarter, Holdings Channel reports. The fund bought 38,339 shares of the company’s stock, valued at approximately $14,506,000. VanEck Oil Services ETF comprises 1.4% of Red Cedar Investment Management LLC’s portfolio, making the stock its 18th biggest holding.
A number of other institutional investors and hedge funds have also recently modified their holdings of OIH. Advisors Preferred LLC purchased a new stake in shares of VanEck Oil Services ETF during the 1st quarter worth approximately $31,000. Allworth Financial LP lifted its stake in VanEck Oil Services ETF by 125.0% in the second quarter. Allworth Financial LP now owns 81 shares of the company’s stock valued at $30,000 after purchasing an additional 45 shares during the last quarter. CX Institutional purchased a new position in VanEck Oil Services ETF in the third quarter valued at approximately $32,000. Essential Partners LLC bought a new position in VanEck Oil Services ETF during the first quarter valued at $36,000. Finally, Geneos Wealth Management Inc. bought a new position in VanEck Oil Services ETF during the first quarter valued at $44,000. 94.50% of the stock is owned by institutional investors.
VanEck Oil Services ETF Price Performance
NYSEARCA:OIH opened at $360.58 on Tuesday. The business has a fifty day simple moving average of $395.89 and a two-hundred day simple moving average of $397.64. VanEck Oil Services ETF has a 1 year low of $270.55 and a 1 year high of $459.28. The company has a market capitalization of $1.77 billion, a P/E ratio of 21.88 and a beta of 0.95.
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.
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