Dallas, Texas 04/04/2014 (FINANCIALSTRENDS) – Market Vectors Oil Services ETF (NYSEARCA:OIH) is an exchange traded fund which tracks its performance and returns against the gains posted by Market Vectors US Listed Oil Services 25 Index .
It has a market cap of $494 million. In the last one week, the fund has lost close to 55 percent of its market value, as the entire oil sector has been facing a subdued trading environment.
The stock market in general, but the energy stock in particular has been going through a quite phase over the past couple of days even as mixed data has been pouring in about the economy. The first was the Federal government announcement about the increase in the jobless numbers for the week. That number has gone up to 3,26,000 for the reporting week, which is the highest it has gained in the past one month. The institute of supply management, on the other hand reported that the non manufacturing sector in the economy grew at 53.1 percent as against the 51.6 percent it had registered in February. The trade deficit for February, which is the latest date for which, data is available for, has gone up by 7.7 percent as exports from U.S came down by 1.1 percent for the same reporting period.
Investors should note that the Dow Jones U.S. Energy Fund and the Energy Select Sector SPDR (XLE) have been relatively unaffected by the choppy weather faced by the larger energy stock in the U.S markets over the past 5 trading sessions.
Market Vectors Oil Services ETF (NYSEARCA:OIH) has its funds invested into some of the biggest large cap oil firms which are traded on the Oil index. The top holding of the fund is Schlumberger NV which accounts for 20.44 percent of its total investment, while it’s holding in Halliburton Company stands at 11.93 percent. The National Oilwell Varco, Inc, Baker Hughes Inc and Seadrill Ltd make up the reminder of the top 5 holdings for this oil ETF.