Petra Financial Advisors Inc. Buys New Holdings in VanEck Oil Services ETF $OIH

Petra Financial Advisors Inc. purchased a new position in shares of VanEck Oil Services ETF (NYSEARCA:OIH) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,177 shares of the company’s stock, valued at approximately $7,347,000. VanEck Oil Services ETF comprises approximately 4.5% of Petra Financial Advisors Inc.’s portfolio, making the stock its 4th biggest holding. Petra Financial Advisors Inc. owned approximately 0.32% of VanEck Oil Services ETF as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Barometer Capital Management Inc. bought a new stake in VanEck Oil Services ETF in the first quarter valued at approximately $647,000. Florida Financial Advisors LLC bought a new position in shares of VanEck Oil Services ETF in the first quarter worth approximately $307,000. SPX Gestao de Recursos Ltda bought a new position in shares of VanEck Oil Services ETF in the first quarter worth approximately $6,669,000. Independent Financial Group LLC purchased a new position in shares of VanEck Oil Services ETF in the first quarter worth $223,000. Finally, Wealthfront Advisers LLC increased its stake in shares of VanEck Oil Services ETF by 78.1% in the first quarter. Wealthfront Advisers LLC now owns 5,672 shares of the company’s stock worth $2,293,000 after buying an additional 2,488 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting VanEck Oil Services ETF

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

• Positive Sentiment: Crude prices have extended their rally on renewed Middle East conflict, with Brent moving above $90 and WTI testing key resistance levels, improving sentiment for oil services companies that benefit from higher upstream spending. Brent oil tops $90 as US, Iran intensify attacks in Middle East
• Positive Sentiment: Shipping disruptions through the Strait of Hormuz and the Bab el-Mandeb have raised supply-risk fears, which could keep crude prices supported and boost demand for oilfield services if producers respond with more activity. Ships shun Strait of Hormuz as renewed fighting strains key oil corridor
• Positive Sentiment: Lower U.S. crude inventories and a smaller Strategic Petroleum Reserve add to the tight-supply narrative, reinforcing the case for firm oil prices. Oil stocks in US Strategic Petroleum Reserve fall by 5.1 million barrels to lowest since 1983
• Neutral Sentiment: Some reports note that crude has pulled back at times as mediation efforts and demand concerns briefly offset the geopolitical premium, so the move is still sensitive to headlines. Oil prices dip as mediation efforts offset US-Iran strikes

VanEck Oil Services ETF Stock Up 2.2%

NYSEARCA:OIH opened at $383.49 on Wednesday. The company has a fifty day moving average of $404.36 and a 200 day moving average of $388.99. VanEck Oil Services ETF has a 52 week low of $231.82 and a 52 week high of $459.28. The firm has a market capitalization of $2.01 billion, a P/E ratio of 10.97 and a beta of 0.87.

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.