VanEck Oil Services ETF (NYSEARCA:OIH) Hits New 52-Week High – Here’s Why

VanEck Oil Services ETF (NYSEARCA:OIH) hit a new 52-week high on Monday . The company traded as high as $452.82 and last traded at $452.82, with a volume of 84679 shares. The stock had previously closed at $440.52.

VanEck Oil Services ETF News Roundup

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

• Positive Sentiment: Crude prices are strengthening as the Strait of Hormuz remains closed, raising the risk of prolonged supply disruptions and keeping energy markets tight. ‘This is bad’: Strategists see European oil shortages within weeks as inventories are depleted
• Positive Sentiment: The IEA said commercial oil inventories are depleting rapidly, with only a few weeks of supply left, reinforcing the case for higher oil prices and stronger upstream spending. IEA chief Birol: commercial oil inventories depleting rapidly, only weeks left
• Positive Sentiment: Analysts say WTI remains in a bullish breakout pattern near the low $100s as Hormuz-related disruptions continue to threaten global supply. Natural Gas and Oil Forecast: Hormuz Crisis Keeps WTI at $102 — Can Bulls Push to $105?
• Positive Sentiment: Oil extended gains after reports of stalled Iran-U.S. peace talks, a drone attack on a UAE nuclear facility, and warnings from Trump that “the clock is ticking” for Iran. Oil rises more than 1% after drone attack on UAE nuclear power plant
• Neutral Sentiment: Broader market sentiment is also being influenced by rising bond yields and inflation worries, which could temper gains in risk assets even as energy stocks benefit. Rising Oil Prices Are Testing the Tech-Powered Rally. But There’s an Even Greater Threat.

VanEck Oil Services ETF Trading Up 2.3%

The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.97 and a beta of 0.89. The stock’s 50 day moving average is $408.73 and its two-hundred day moving average is $351.40.

Institutional Investors Weigh In On VanEck Oil Services ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altfest L J & Co. Inc. bought a new stake in VanEck Oil Services ETF during the 4th quarter worth about $3,262,000. Fortis Capital Advisors LLC bought a new stake in VanEck Oil Services ETF during the 4th quarter worth about $2,535,000. JPMorgan Chase & Co. lifted its position in VanEck Oil Services ETF by 189.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 141,542 shares of the company’s stock worth $36,788,000 after buying an additional 92,676 shares in the last quarter. Marks Wealth LLC acquired a new stake in shares of VanEck Oil Services ETF in the 4th quarter valued at approximately $8,129,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of VanEck Oil Services ETF in the 4th quarter valued at approximately $2,535,000. 94.50% of the stock is owned by institutional investors.

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.