Lyell Wealth Management LP Acquires 1,428 Shares of VanEck Oil Services ETF $OIH

Lyell Wealth Management LP bought a new position in shares of VanEck Oil Services ETF (NYSEARCA:OIH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,428 shares of the company’s stock, valued at approximately $540,000.

Several other large investors have also recently bought and sold shares of the business. Allworth Financial LP boosted its position in shares of VanEck Oil Services ETF by 125.0% during the 2nd quarter. Allworth Financial LP now owns 81 shares of the company’s stock worth $30,000 after acquiring an additional 45 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of VanEck Oil Services ETF in the 1st quarter valued at $31,000. CX Institutional acquired a new position in shares of VanEck Oil Services ETF in the 3rd quarter valued at $32,000. Essential Partners LLC acquired a new stake in VanEck Oil Services ETF during the 1st quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in VanEck Oil Services ETF during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

VanEck Oil Services ETF News Roundup

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

• Positive Sentiment: OPEC+ kept December output steady and maintained its production cuts amid Iran-related disruptions. Restrained supply and firmer crude prices could support demand for oilfield services. OPEC+ Holds Output Steady, Maintains 2M BPD Cuts: ETFs in Focus
• Positive Sentiment: U.S. commercial crude inventories fell for a fifth consecutive week, and distillate stocks reached their lowest level in more than two decades—evidence of tightness that may support energy prices and service activity. U.S. Crude Oil Stockpiles Post Fifth Straight Weekly Drop
• Neutral Sentiment: The U.S. plans to loan about a third of its heating-oil reserve to help tame prices. The move may ease fuel tightness, though it does not directly signal a change in oil-services demand. US to loan about a third of heating oil reserve in bid to tame prices
• Negative Sentiment: JPMorgan sees rising exports and weak demand pushing the global oil market into surplus. Reports of unsold Nigerian cargoes and easing oil prices reinforce concerns that near-term activity and investment could soften. JPMorgan says rising exports, weak demand push global oil market into surplus Physical Oil Just Went From a Bidding War to a Fire Sale
• Negative Sentiment: Oil-services executives said the Iran crisis is raising shipping, fuel, and security costs, pressuring Middle Eastern contract economics. OIH also faced a technical headwind after breaking below its 200-day moving average. Oil services firms face major cost pressure from Iran crisis, execs say VanEck Oil Services ETF Share Price Breaks Below 200 Day Moving Average

VanEck Oil Services ETF Stock Performance

OIH opened at $366.06 on Thursday. The business’s 50-day simple moving average is $399.37 and its 200-day simple moving average is $397.27. VanEck Oil Services ETF has a one year low of $270.55 and a one year high of $459.28. The stock has a market capitalization of $1.79 billion, a P/E ratio of 21.88 and a beta of 0.95.

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.