VanEck Pharmaceutical ETF (NASDAQ:PPH) Reaches New 52-Week High – Here’s What Happened

Shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) hit a new 52-week high on Monday . The stock traded as high as $109.37 and last traded at $107.59, with a volume of 512623 shares traded. The stock had previously closed at $106.81.

VanEck Pharmaceutical ETF Price Performance

The stock has a market cap of $1.19 billion, a P/E ratio of 20.21 and a beta of 0.54. The stock has a 50-day simple moving average of $103.40 and a 200-day simple moving average of $94.92.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 29th were given a dividend of $0.3106 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in shares of VanEck Pharmaceutical ETF by 53.3% during the 1st quarter. Royal Bank of Canada now owns 67,596 shares of the company’s stock worth $6,160,000 after purchasing an additional 23,491 shares in the last quarter. NewEdge Advisors LLC lifted its position in VanEck Pharmaceutical ETF by 7.3% in the 1st quarter. NewEdge Advisors LLC now owns 8,873 shares of the company’s stock valued at $809,000 after acquiring an additional 607 shares in the last quarter. Blair William & Co. IL boosted its stake in VanEck Pharmaceutical ETF by 34.3% during the 2nd quarter. Blair William & Co. IL now owns 12,295 shares of the company’s stock valued at $1,081,000 after purchasing an additional 3,140 shares during the last quarter. CWM LLC increased its holdings in VanEck Pharmaceutical ETF by 167.9% during the 2nd quarter. CWM LLC now owns 375 shares of the company’s stock worth $33,000 after purchasing an additional 235 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in VanEck Pharmaceutical ETF by 4.8% during the 2nd quarter. Axxcess Wealth Management LLC now owns 9,114 shares of the company’s stock worth $802,000 after purchasing an additional 416 shares in the last quarter.

VanEck Pharmaceutical ETF Company Profile

The VanEck Pharmaceutical ETF (PPH) is an exchange-traded fund that is based on the MVIS US Listed Pharmaceutical 25 index, a market-cap-weighted index of 25 of the largest global pharmaceutical firms. PPH was launched on Feb 1, 2000 and is managed by VanEck.