Oil Services ETF Sees Significant Outflow as Market Shifts

In a notable decline, the Oil Services ETF (Symbol: OIH) experienced an outflow of approximately $141.9 million this week, representing an 8.7% decrease in shares outstanding.

Current Market Movement

This week, OIH’s shares fell from 5,750,543 to 5,250,543. Among the ETF’s major holdings, Schlumberger Ltd (Symbol: SLB) rose by about 1.3%. However, Baker Hughes Company (Symbol: BKR) saw a drop of roughly 0.6%, and Halliburton Company (Symbol: HAL) decreased by about 0.9%. To explore all holdings, check out the OIH Holdings page.

Price Performance Overview

The chart below illustrates OIH’s price performance over the past year, compared to its 200-day moving average:

OIH’s 52-week price range spans from a low of $262.18 to a high of $353.25, with the latest trading price at $284.05. Evaluating these figures against the 200-day moving average can provide insights into market trends — learn more about the 200-day moving average.

Understanding ETF Mechanics

Exchange-traded funds (ETFs) operate similarly to stocks. However, instead of “shares,” investors buy and sell “units.” These units can be traded like stocks, but they can also be created or destroyed based on investor interest. We closely monitor the week-over-week changes in shares outstanding to identify ETFs with noteworthy inflows (new units created) or outflows (existing units destroyed). The creation of new units necessitates purchasing the ETF’s underlying assets, while unit destruction involves selling them, potentially affecting the performance of individual holdings.

Explore additional ETFs that experienced significant outflows »

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