Diamond Offshore, Ensco and Noble combine for 8.2% of OIH’s weight. The ETF currently features no exposure to Atwood Oceanics.
Transocean (NYSE: RIG), which reinstated its dividend due in large part from pressure by financier Carl Icahn, is widely believed to be another oil services dividend cutter. Currently yielding 11.9%, Transocean has plunged 53% this year, but that is not stopping traders from betting on more downside.
The stock closed at $23.27 Wednesday, or barely more than half its price in early May 2010, then its nadir following the Gulf of Mexico oil spill. Transocean currently accounts for 3.6% of OIH’s weight and 2.4% of IEZ.
Market Vectors Oil Service ETF
