Ocean Park Asset Management LLC Has $2.31 Million Stake in VanEck Oil Services ETF $OIH

Ocean Park Asset Management LLC trimmed its stake in VanEck Oil Services ETF (NYSEARCA:OIH) by 36.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,718 shares of the company’s stock after selling 3,300 shares during the period. Ocean Park Asset Management LLC’s holdings in VanEck Oil Services ETF were worth $2,311,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its stake in VanEck Oil Services ETF by 66.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of VanEck Oil Services ETF in the 3rd quarter valued at $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of VanEck Oil Services ETF in the 4th quarter valued at $33,000. Empowered Funds LLC bought a new stake in shares of VanEck Oil Services ETF in the 4th quarter worth about $34,000. Finally, Advisory Services Network LLC bought a new stake in shares of VanEck Oil Services ETF in the 3rd quarter worth about $43,000. 94.50% of the stock is currently owned by institutional investors.

Key Headlines Impacting VanEck Oil Services ETF

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

• Positive Sentiment: Some analysts and officials said oil flows through Hormuz may recover slowly, which could keep a floor under crude prices in the near term. Oil flows through Hormuz will take time to recover, banks say
• Positive Sentiment: OPEC reiterated a robust long-term demand outlook, saying there is no peak in sight for global oil demand, which supports the case for continued upstream activity over time. OPEC sticks to robust oil demand outlook, sees no peak to 2050
• Neutral Sentiment: Shipping through Hormuz has started to improve, but officials and market watchers said the normalization process could take months and remains sensitive to conditions in the region. Oil shipments rise in Hormuz although questions grow over Iran’s transit terms
• Neutral Sentiment: Industry coverage also noted that focus is shifting from the conflict itself to storage, shipping, and how quickly Gulf producers can ramp exports back up. Hormuz Reopening Shifts Focus to Gulf Oil Storage and Shipping
• Negative Sentiment: Multiple reports said oil prices fell sharply as the Strait of Hormuz reopened or was expected to reopen, with traders pricing in a return of stranded supply and a potential demand-side headwind for energy services stocks. Oil falls as supply starts moving through Strait of Hormuz

VanEck Oil Services ETF Price Performance

Shares of VanEck Oil Services ETF stock opened at $385.49 on Monday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 10.97 and a beta of 0.85. The company has a 50-day simple moving average of $425.22 and a 200 day simple moving average of $376.25. VanEck Oil Services ETF has a 12-month low of $226.59 and a 12-month high of $459.28.

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.