Continuum Advisory LLC acquired a new position in VanEck Oil Services ETF (NYSEARCA:OIH – Free Report) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 1,502 shares of the company’s stock, valued at approximately $607,000.
Several other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. raised its holdings 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 worth $25,000 after buying an additional 35 shares during the period. Wexford Capital LP bought a new position in VanEck Oil Services ETF in the 3rd quarter valued at $27,000. Greykasell Wealth Strategies Inc. purchased a new stake in VanEck Oil Services ETF in the fourth quarter worth $33,000. Empowered Funds LLC bought a new stake in shares of VanEck Oil Services ETF during the fourth quarter worth $34,000. Finally, Advisory Services Network LLC purchased a new stake in shares of VanEck Oil Services ETF during the third quarter valued at $43,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.
Trending Headlines about VanEck Oil Services ETF
Here are the key news stories impacting VanEck Oil Services ETF this week:
- Positive Sentiment: Middle East producers are still pushing ahead with oil and LNG loadings despite ship attacks, which helps limit the risk of a major supply shock and keeps some energy-market activity elevated. Middle East producers push on with oil, LNG loadings despite ship attacks
- Positive Sentiment: Oil prices rose late last week and into Monday as renewed U.S.-Iran tensions raised supply-disruption concerns, which can support oilfield service names if sustained. Oil climbs following renewed US, Iran strikes in Middle East
- Neutral Sentiment: Wall Street analysts are cutting long-term oil price forecasts, saying weaker demand may outweigh geopolitical risks, which points to a more subdued outlook for the energy complex. Why Wall Street Thinks Cheap Oil Is Here to Stay
- Neutral Sentiment: The U.S. Strategic Petroleum Reserve fell to its lowest level since 1983, a datapoint that highlights tight government inventories but does not by itself guarantee a near-term boost for services demand. Oil stocks in US Strategic Petroleum Reserve fall by 5.5 million to lowest level since 1983
- Negative Sentiment: Market commentary is increasingly focused on oversupply, with a White House economist warning that “more oil” is coming and prices are likely to drop, a headwind for oil-services shares. White House Economist: ‘More Oil Than You’ve Ever Seen’ Is Coming, and Prices Are About to Drop
- Negative Sentiment: Recent crude forecasts and technical analysis suggest WTI and Brent are under renewed selling pressure as the geopolitical risk premium fades, which is a bearish signal for OIH. Natural Gas and Oil Forecast: WTI Under $71 While Brent Tests $73 — NatGas Channel Momentum?
VanEck Oil Services ETF Trading Down 0.7%
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.
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Want to see what other hedge funds are holding OIH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VanEck Oil Services ETF (NYSEARCA:OIH – Free Report).
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