Graham Capital Management L.P. Makes New Investment in VanEck Oil Services ETF $OIH

Graham Capital Management L.P. bought a new position in shares of VanEck Oil Services ETF (NYSEARCA:OIH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 48,000 shares of the company’s stock, valued at approximately $13,669,000. Graham Capital Management L.P. owned about 0.81% of VanEck Oil Services ETF at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OIH. JPMorgan Chase & Co. grew its holdings in VanEck Oil Services ETF by 189.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 141,542 shares of the company’s stock worth $36,788,000 after acquiring an additional 92,676 shares during the last quarter. Gendell Jeffrey L boosted its stake in shares of VanEck Oil Services ETF by 79.9% in the 4th quarter. Gendell Jeffrey L now owns 146,532 shares of the company’s stock valued at $41,728,000 after purchasing an additional 65,084 shares during the last quarter. Red Cedar Investment Management LLC bought a new stake in shares of VanEck Oil Services ETF in the 4th quarter valued at $15,506,000. Pureheart Capital Pte Ltd. bought a new stake in shares of VanEck Oil Services ETF in the 3rd quarter valued at $12,216,000. Finally, Q3 Asset Management bought a new stake in shares of VanEck Oil Services ETF in the 4th quarter valued at $10,230,000. 94.50% of the stock is owned by institutional investors.

VanEck Oil Services ETF News Summary

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

• Positive Sentiment: U.S. crude inventories fell for a ninth straight week, which points to still-tight near-term supply conditions and could support oilfield activity. US crude stocks fall for ninth straight week, sources say
• Neutral Sentiment: Potential Tropical Cyclone One off the Texas coast may disrupt Gulf energy operations with heavy rain and flooding, but the impact is still uncertain. Potential Tropical Cyclone One forms off Texas coast, threatening dangerous flash flooding
• Neutral Sentiment: Some analysts still see a technical rebound in oil after the recent selloff, suggesting prices may not fall in a straight line. Natural Gas and Oil Forecast: Truce Stability Fuels Technical Recovery — What’s Next for Oil & NatGas?
• Negative Sentiment: Crude prices are under pressure because traders expect more supply from the Middle East as Gulf flows recover faster than expected. Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Dives 6% As Traders Prepare For The Flood Of Oil From The Middle East
• Negative Sentiment: Reports that the U.S. will let Iran immediately resume oil sales, along with comments that oil prices are back near baseline levels, reinforce a weaker crude-price outlook. U.S.-Iran deal allows Tehran to immediately sell oil, WSJ reports ECB’s Lane says oil prices closer to baseline scenario after Iran deal
• Negative Sentiment: Major banks cut oil-price forecasts, and multiple reports say oil prices fell as the Strait of Hormuz reopening became more likely, which weighs on oil-services demand and sentiment. Major Wall Street Banks Cut Oil-Price Forecasts on Faster Gulf Supply Recovery Oil Prices Fall Further As Trump Says Strait of Hormuz Will Reopen This Week
• Negative Sentiment: Energy shares broadly fell after the Iran deal lowered the risk of Hormuz disruption, a direct headwind for the VanEck Oil Services ETF (OIH). Energy shares fall as Iran deal lowers Hormuz disruption risk

VanEck Oil Services ETF Stock Performance

NYSEARCA:OIH opened at $406.19 on Wednesday. The firm’s fifty day moving average is $426.21 and its 200-day moving average is $374.14. VanEck Oil Services ETF has a 52 week low of $226.59 and a 52 week high of $459.28. The firm has a market cap of $2.27 billion, a P/E ratio of 10.97 and a beta of 0.85.

VanEck Oil Services ETF 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.