VanEck Oil Refiners ETF (NYSEARCA:CRAK) Reaches New 52-Week High – Here’s Why

VanEck Oil Refiners ETF (NYSEARCA:CRAK) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $68.00 and last traded at $67.94, with a volume of 1,035,059 shares changing hands. The stock had previously closed at $65.81.

VanEck Oil Refiners ETF Trading Up 3.2%

The stock has a market cap of $709.97 million, a PE ratio of 13.16 and a beta of 0.56. The business has a 50 day moving average of $62.38 and a 200-day moving average of $53.94.

Institutional Investors Weigh In On VanEck Oil Refiners ETF

Several large investors have recently modified their holdings of the company. Ayalon Insurance Comp Ltd. acquired a new stake in shares of VanEck Oil Refiners ETF in the third quarter valued at approximately $16,054,000. Journey Advisory Group LLC grew its position in shares of VanEck Oil Refiners ETF by 135.5% during the first quarter. Journey Advisory Group LLC now owns 233,373 shares of the company’s stock worth $11,529,000 after acquiring an additional 134,273 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of VanEck Oil Refiners ETF in the 1st quarter valued at $1,792,000. J. Safra Sarasin Holding AG acquired a new position in shares of VanEck Oil Refiners ETF in the 1st quarter valued at $1,077,000. Finally, Western Wealth Management LLC increased its holdings in shares of VanEck Oil Refiners ETF by 42.2% in the 1st quarter. Western Wealth Management LLC now owns 19,078 shares of the company’s stock valued at $942,000 after acquiring an additional 5,660 shares during the period.

VanEck Oil Refiners ETF Company Profile

The VanEck Oil Refiners ETF (CRAK) is an exchange-traded fund that is based on the MVIS Global Oil Refiners index. The fund tracks a market-cap index of global stocks issued by firms that earn at least 50% of their revenue from oil refining. CRAK was launched on Aug 18, 2015 and is managed by VanEck.