WT Wealth Management Invests $2.63 Million in VanEck Oil Services ETF $OIH

WT Wealth Management acquired a new stake in VanEck Oil Services ETF (NYSEARCA:OIH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,508 shares of the company’s stock, valued at approximately $2,630,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its position in shares of VanEck Oil Services ETF by 66.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. Wexford Capital LP purchased a new stake in VanEck Oil Services ETF during the 3rd quarter valued at about $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in VanEck Oil Services ETF in the 4th quarter valued at about $33,000. Empowered Funds LLC purchased a new position in VanEck Oil Services ETF in the 4th quarter worth approximately $34,000. Finally, Advisory Services Network LLC acquired a new position in shares of VanEck Oil Services ETF during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

VanEck Oil Services ETF Stock Performance

NYSEARCA:OIH opened at $375.55 on Friday. VanEck Oil Services ETF has a one year low of $227.68 and a one year high of $459.28. The stock has a market cap of $2.10 billion, a PE ratio of 10.97 and a beta of 0.85. The stock has a 50 day moving average price of $422.43 and a 200 day moving average price of $378.44.

More VanEck Oil Services ETF News

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

• Positive Sentiment: Natural gas prices are rising on hotter U.S. weather forecasts, which could support broader energy sentiment and partially offset weakness in crude-linked assets. U.S. Natural Gas Futures Extend Gains on Coming Hot Weather
• Neutral Sentiment: Oil market commentators say prices may be nearing support after a sharp pullback, with some technical indicators suggesting the selloff could stabilize soon. Crude Oil Price Forecast: Can Oil Rebound from Oversold Conditions?
• Neutral Sentiment: There are still lingering supply-disruption risks after an Iranian attack on a cargo ship near Oman, but markets largely viewed the event as not enough to reverse the broader decline in oil prices. Oil edges lower amid resumption of strait shipments even as vessel hit near Oman
• Negative Sentiment: Crude oil fell below $70 a barrel as traders focused on improving flow through Hormuz and less concern about supply disruption, reducing the near-term earnings outlook for oilfield service companies. US crude oil falls below $70 a barrel despite Iranian attack on cargo ship
• Negative Sentiment: Multiple reports describe oil prices sliding back toward pre-war levels as Middle East tensions ease and tankers resume movement, a headwind for the oil services sector. Oil prices fall as tankers exit Strait of Hormuz

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.