VanEck Oil Services ETF (NYSEARCA:OIH) Sees Large Volume Increase – Should You Buy?

Shares of VanEck Oil Services ETF (NYSEARCA:OIH) saw unusually-strong trading volume on Friday . Approximately 567,419 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 322,666 shares.The stock last traded at $279.07 and had previously closed at $279.80.

VanEck Oil Services ETF Stock Up 0.1 %

The stock’s fifty day simple moving average is $286.16 and its two-hundred day simple moving average is $294.35. The firm has a market cap of $1.75 billion, a PE ratio of 18.96 and a beta of 0.81.

Institutional Investors Weigh In On VanEck Oil Services ETF

Institutional investors have recently modified their holdings of the stock. ST Germain D J Co. Inc. lifted its position in VanEck Oil Services ETF by 90.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,364 shares of the company’s stock valued at $370,000 after acquiring an additional 647 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of VanEck Oil Services ETF by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 1,003,000 shares of the company’s stock valued at $284,561,000 after purchasing an additional 154,738 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of VanEck Oil Services ETF during the third quarter valued at $312,000. Savoie Capital LLC bought a new stake in VanEck Oil Services ETF in the 3rd quarter worth about $5,617,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in VanEck Oil Services ETF in the 3rd quarter worth about $312,000.

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.