Traders Purchase High Volume of Put Options on VanEck Oil Services ETF (NYSEARCA:OIH)

VanEck Oil Services ETF (NYSEARCA:OIH) saw some unusual options trading on Monday. Investors purchased 3,773 put options on the stock. This is an increase of approximately 393% compared to the typical daily volume of 766 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OIH. MTM Investment Management LLC bought a new position in shares of VanEck Oil Services ETF in the second quarter worth approximately $27,000. Lowe Wealth Advisors LLC purchased a new position in shares of VanEck Oil Services ETF during the 2nd quarter valued at about $31,000. Founders Financial Alliance LLC bought a new stake in VanEck Oil Services ETF in the 3rd quarter worth approximately $33,000. Headlands Technologies LLC purchased a new stake in VanEck Oil Services ETF in the first quarter worth approximately $45,000. Finally, Qube Research & Technologies Ltd purchased a new stake in VanEck Oil Services ETF in the second quarter worth approximately $53,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

VanEck Oil Services ETF Trading Up 1.5%

Shares of NYSEARCA OIH opened at $289.68 on Tuesday. The stock has a fifty day simple moving average of $264.39 and a two-hundred day simple moving average of $245.35. VanEck Oil Services ETF has a 1-year low of $191.21 and a 1-year high of $311.28. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 10.97 and a beta of 1.16.

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.