VanEck Oil Services ETF (NYSEARCA:OIH) Hits New 12-Month Low – Here’s Why

Shares of VanEck Oil Services ETF (NYSEARCA:OIH) hit a new 52-week low on Thursday . The stock traded as low as $239.66 and last traded at $240.44, with a volume of 299136 shares. The stock had previously closed at $266.32.

VanEck Oil Services ETF Stock Down 12.3 %

The firm has a market cap of $986.91 million, a P/E ratio of 12.26 and a beta of 1.35. The business has a fifty day simple moving average of $265.95 and a 200-day simple moving average of $279.59.

Institutional Investors Weigh In On VanEck Oil Services ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of VanEck Oil Services ETF in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in VanEck Oil Services ETF by 64.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 102 shares of the company’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of VanEck Oil Services ETF by 64.6% in the fourth quarter. Farther Finance Advisors LLC now owns 130 shares of the company’s stock worth $35,000 after buying an additional 51 shares in the last quarter. Park Square Financial Group LLC bought a new position in VanEck Oil Services ETF in the 4th quarter valued at approximately $54,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of VanEck Oil Services ETF during the fourth quarter valued at $62,000.

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.