IFP Advisors Inc Cuts Stock Position in VanEck Oil Services ETF $OIH

IFP Advisors Inc reduced its position in VanEck Oil Services ETF (NYSEARCA:OIH) by 49.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 509 shares of the company’s stock after selling 500 shares during the quarter. IFP Advisors Inc’s holdings in VanEck Oil Services ETF were worth $117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OIH. Lowe Wealth Advisors LLC purchased a new position in shares of VanEck Oil Services ETF in the 2nd quarter worth about $31,000. Headlands Technologies LLC purchased a new position in shares of VanEck Oil Services ETF in the 1st quarter worth about $45,000. Banque Cantonale Vaudoise purchased a new position in shares of VanEck Oil Services ETF in the 1st quarter worth about $54,000. Trexquant Investment LP purchased a new position in shares of VanEck Oil Services ETF in the 1st quarter worth about $229,000. Finally, Bank of Nova Scotia purchased a new position in shares of VanEck Oil Services ETF in the 1st quarter worth about $278,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

VanEck Oil Services ETF Trading Up 0.8%

OIH opened at $251.56 on Friday. The stock has a 50-day moving average price of $253.47 and a 200-day moving average price of $237.50. VanEck Oil Services ETF has a 12-month low of $191.21 and a 12-month high of $311.28. The stock has a market capitalization of $930.77 million, a P/E ratio of 10.97 and a beta of 1.99.

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.