Significant Outflow Detected in VanEck Oil Service ETF

In recent trading, the VanEck Oil Service ETF (Symbol: OIH) has experienced a notable week-over-week decrease in shares outstanding. Approximately $79.9 million has flowed out, representing a 6.0% decline from 5,000,543 to 4,700,543 shares. The performance of key holdings within this ETF includes Schlumberger Ltd (Symbol: SLB), which is down about 0.9%; Baker Hughes Company (Symbol: BKR), up around 0.4%; and Halliburton Company (Symbol: HAL), which declined by about 0.4%. For a full list of its holdings, visit the OIH Holdings page.

The chart below illustrates OIH’s one-year price performance compared to its 200-day moving average:

Currently, OIH’s 52-week low stands at $257.78 per share, while the 52-week high is $353.25, with the last trade recorded at $264.36. This comparison with the 200-day moving average can serve as a valuable tool for technical analysis—learn more about the 200-day moving average.

Exchange-traded funds (ETFs) function like stocks; however, investors are addressing “units” rather than “shares.” These units can be bought and sold similarly to stocks, but they can also be created or destroyed based on investor demand. Each week, we track the changes in outstanding shares to identify ETFs with significant inflows (indicating the creation of new units) or outflows (indicating the destruction of old units). When new units are created, it necessitates purchasing the ETF’s underlying holdings, while unit destruction involves selling those holdings. Thus, large inflows and outflows can significantly influence the individual components within these ETFs.

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Also see:

• Funds Holding NMR
• MYSZ YTD Return
• Institutional Holders of FEUZ

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.