Traders Purchase Large Volume of VanEck Oil Services ETF Call Options (NYSEARCA:OIH)

VanEck Oil Services ETF (NYSEARCA:OIH) saw unusually large options trading on Monday. Investors bought 9,290 call options on the company. This represents an increase of approximately 819% compared to the average daily volume of 1,011 call options.

VanEck Oil Services ETF Stock Up 3.5%

Shares of OIH stock traded up $14.71 during mid-day trading on Monday, reaching $429.41. The stock had a trading volume of 107,537 shares, compared to its average volume of 560,976. The firm has a market cap of $2.40 billion, a PE ratio of 10.97 and a beta of 0.85. VanEck Oil Services ETF has a one year low of $226.59 and a one year high of $459.28. The firm’s 50 day simple moving average is $423.83 and its 200 day simple moving average is $367.28.

Hedge Funds Weigh In On VanEck Oil Services ETF

Several hedge funds and other institutional investors have recently modified their holdings of OIH. SBI Securities Co. Ltd. lifted its position in shares of VanEck Oil Services ETF by 66.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock worth $25,000 after buying an additional 35 shares during the period. Wexford Capital LP bought a new position in shares of VanEck Oil Services ETF during the 3rd quarter worth approximately $27,000. Advisors Preferred LLC bought a new position in shares of VanEck Oil Services ETF during the 1st quarter worth approximately $31,000. Founders Financial Alliance LLC bought a new position in shares of VanEck Oil Services ETF during the 3rd quarter worth approximately $33,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of VanEck Oil Services ETF during the 4th quarter worth approximately $33,000. Institutional investors own 94.50% of the company’s stock.

VanEck Oil Services ETF News Roundup

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

• Positive Sentiment: Oil prices surged and remained volatile after missile exchanges between Israel and Iran, lifting the outlook for drilling, pressure pumping, and other oilfield services businesses that make up OIH. Oil Rises on Israel-Iran Escalation, U.S. Tech Futures Climb
• Positive Sentiment: Analysts said crude could test the $100 level as the Israel-Iran conflict escalates, reinforcing a higher-price backdrop for energy-service demand. Oil News: Crude Futures Eye 100 as Iran-Israel Conflict Escalates
• Positive Sentiment: Supply-disruption fears increased after the Houthis threatened Red Sea shipping and broader Middle East tensions threatened energy flows, another supportive factor for oil-service equities. Explainer: Why are the Houthis threatening to attack Red Sea shipping and what does it mean for oil markets?
• Neutral Sentiment: Saudi Arabia cut July crude prices for Asia, reflecting softer demand in that region, which could partially offset the bullish impact of geopolitics on oil prices. Saudi Arabia Cuts July Crude Prices for Asia As Demand Slows
• Neutral Sentiment: OPEC+ still plans only a modest July output-target increase, so the supply backdrop is not loosening enough to fully reverse the oil-price rally. OPEC+ to make small oil output quota hike for July

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.