VanEck Oil Services ETF (NYSEARCA:OIH) Sets New 1-Year Low – Time to Sell?

VanEck Oil Services ETF (NYSEARCA:OIH) shares hit a new 52-week low during trading 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 Performance

The company has a 50-day simple moving average of $268.68 and a two-hundred day simple moving average of $280.37. The firm has a market capitalization of $1.12 billion, a P/E ratio of 12.26 and a beta of 1.35.

Hedge Funds Weigh In On VanEck Oil Services ETF

A number of institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in VanEck Oil Services ETF in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 acquiring an additional 40 shares during the period. Farther Finance Advisors LLC lifted its position in VanEck Oil Services ETF by 64.6% during the fourth quarter. Farther Finance Advisors LLC now owns 130 shares of the company’s stock valued at $35,000 after purchasing an additional 51 shares during the period. Park Square Financial Group LLC purchased a new stake in VanEck Oil Services ETF in the fourth quarter worth approximately $54,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in VanEck Oil Services ETF during the 4th 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.