Main Management LLC Sells 5,000 Shares of VanEck Oil Services ETF $OIH

Main Management LLC cut its holdings in VanEck Oil Services ETF (NYSEARCA:OIH) by 32.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,341 shares of the company’s stock after selling 5,000 shares during the period. Main Management LLC’s holdings in VanEck Oil Services ETF were worth $2,945,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. NewEdge Advisors LLC increased its holdings in shares of VanEck Oil Services ETF by 30.5% in the first quarter. NewEdge Advisors LLC now owns 2,629 shares of the company’s stock worth $689,000 after buying an additional 614 shares during the period. Creative Planning increased its holdings in shares of VanEck Oil Services ETF by 42.9% in the second quarter. Creative Planning now owns 1,150 shares of the company’s stock worth $265,000 after buying an additional 345 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of VanEck Oil Services ETF in the second quarter worth about $53,000. The Manufacturers Life Insurance Company increased its holdings in shares of VanEck Oil Services ETF by 148.1% in the second quarter. The Manufacturers Life Insurance Company now owns 7,244 shares of the company’s stock worth $1,668,000 after buying an additional 4,324 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in shares of VanEck Oil Services ETF by 88.2% in the second quarter. Raymond James Financial Inc. now owns 24,713 shares of the company’s stock worth $5,691,000 after buying an additional 11,583 shares during the period. 94.50% of the stock is owned by institutional investors.

VanEck Oil Services ETF Stock Performance

OIH opened at $418.25 on Monday. The company has a market cap of $2.34 billion, a P/E ratio of 10.97 and a beta of 0.89. The business’s 50-day moving average price is $420.99 and its 200-day moving average price is $362.31. VanEck Oil Services ETF has a 12 month low of $215.10 and a 12 month high of $459.28.

VanEck Oil Services ETF News Summary

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

• Negative Sentiment: Crude and Brent prices fell sharply as traders priced in progress toward a U.S.-Iran deal, with multiple reports saying the market is leaning toward a ceasefire and reduced supply-risk premium. That weaker oil backdrop is a headwind for oil-services names like OIH. Oil prices fall after Trump says he will make final determination on Iran deal
• Negative Sentiment: Oil is on track for one of its biggest monthly drops since 2020, and Brent has fallen about 19% in May. A sustained move lower in crude tends to reduce urgency for drilling and services demand, which can pressure OIH. Oil Declines Lift Stocks to Fresh Records
• Negative Sentiment: Saudi Arabia may cut July oil prices to Asia again as demand weakens, reinforcing concerns that crude fundamentals are softening even with Middle East supply disruptions. Saudi Arabia may lower July oil prices to Asia as demand weakens
• Neutral Sentiment: Some reports argue the oil drawdown is not fully “fixed,” with inventories still tightening and shale producers limited by a record-low backlog of drilled-but-uncompleted wells. That could help support oil later, but it has not offset the near-term bearish price move. Record-low U.S. shale well backlog curbs fast output gains amid export surge
• Neutral Sentiment: RBC and other analysts warned that ceasefire optimism may be running ahead of reality, while inventory drawdowns remain deep. This keeps some upside risk in crude, but for now the market tone is still dominated by falling oil prices. Iran ceasefire hopes outrun reality as oil inventory drawdowns deepen, RBC warns

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.