Wealthfront Advisers LLC Has $2.29 Million Stake in VanEck Oil Services ETF $OIH

Wealthfront Advisers LLC raised its stake in shares of VanEck Oil Services ETF (NYSEARCA:OIH) by 78.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,672 shares of the company’s stock after purchasing an additional 2,488 shares during the period. Wealthfront Advisers LLC owned 0.10% of VanEck Oil Services ETF worth $2,293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OIH. Geneos Wealth Management Inc. acquired a new stake in shares of VanEck Oil Services ETF in the first quarter valued at about $44,000. Advisors Preferred LLC acquired a new position in shares of VanEck Oil Services ETF in the first quarter worth approximately $31,000. Zweig DiMenna Associates LLC lifted its stake in shares of VanEck Oil Services ETF by 50.0% in the first quarter. Zweig DiMenna Associates LLC now owns 5,700 shares of the company’s stock worth $2,304,000 after acquiring an additional 1,900 shares during the period. Sanctuary Advisors LLC bought a new stake in VanEck Oil Services ETF in the first quarter valued at approximately $204,000. Finally, HBW Advisory Services LLC boosted its holdings in VanEck Oil Services ETF by 191.4% in the first quarter. HBW Advisory Services LLC now owns 1,964 shares of the company’s stock valued at $794,000 after acquiring an additional 1,290 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting VanEck Oil Services ETF

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

• Positive Sentiment: Oil prices are climbing as fighting between the U.S. and Iran intensifies, with Brent topping $90 and U.S. pump prices moving back above $4 a gallon. That typically supports demand for oil services and drilling activity expectations. Brent oil tops $90 as US, Iran intensify attacks in Middle East
• Positive Sentiment: Reports that the Bab el-Mandeb Strait could face a Houthi blockade and that few tankers are entering the Strait of Hormuz highlight heightened supply disruption risk, which can keep crude prices elevated and improve sentiment toward oil services names. Houthi Red Sea blockade would lift oil prices, but workarounds could limit impact Few tankers enter Hormuz to load oil, data shows
• Positive Sentiment: More evidence of supply tightness came from the suspension of Caspian Pipeline Consortium oil loadings after a tanker attack, reinforcing concerns that global crude transport could stay disrupted. CPC suspends oil loadings following attack on tanker, after brief resumption
• Neutral Sentiment: Oil markets remain volatile and headline-driven, with some commentary saying crude is stalling near key technical levels and futures are mixed as investors balance geopolitical risk against weaker demand forecasts. Crude Oil Price Analysis – Crude Oil Stalls at 50-Day EMA as Middle East Noise Persists Natural Gas and Oil Forecast: OPEC Demand Cut Meets Hormuz Tensions What’s Next for Oil?
• Negative Sentiment: One offsetting factor is that U.S. Strategic Petroleum Reserve inventories fell to the lowest level since 1983, which may limit the government’s ability to cushion a future supply shock and adds uncertainty around broader energy policy. Oil stocks in US Strategic Petroleum Reserve fall by 5.1 million barrels to lowest level since 1983

VanEck Oil Services ETF Stock Performance

VanEck Oil Services ETF stock opened at $375.18 on Tuesday. VanEck Oil Services ETF has a 52-week low of $231.82 and a 52-week high of $459.28. The firm has a 50 day moving average price of $405.44 and a two-hundred day moving average price of $388.30. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 10.97 and a beta of 0.87.

VanEck Oil Services ETF 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.