VanEck Pharmaceutical ETF (NASDAQ:PPH) Sets New 12-Month High – Still a Buy?

VanEck Pharmaceutical ETF (NASDAQ:PPH) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $116.79 and last traded at $116.79, with a volume of 17344 shares traded. The stock had previously closed at $113.20.

VanEck Pharmaceutical ETF Stock Up 3.5%

The stock has a fifty day simple moving average of $109.03 and a 200-day simple moving average of $106.32. The company has a market capitalization of $989.08 million, a P/E ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, July 1st were issued a dividend of $0.6248 per share. This represents a $2.50 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, July 1st.

Institutional Trading of VanEck Pharmaceutical ETF

Several hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise grew its position in VanEck Pharmaceutical ETF by 6.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 1,907 shares of the company’s stock worth $198,000 after acquiring an additional 115 shares during the last quarter. CWM LLC raised its position in VanEck Pharmaceutical ETF by 36.3% in the 4th quarter. CWM LLC now owns 511 shares of the company’s stock worth $53,000 after purchasing an additional 136 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of VanEck Pharmaceutical ETF by 1.8% during the first quarter. Arkadios Wealth Advisors now owns 8,447 shares of the company’s stock valued at $877,000 after acquiring an additional 150 shares during the period. IFP Advisors Inc boosted its stake in shares of VanEck Pharmaceutical ETF by 53.7% in the 3rd quarter. IFP Advisors Inc now owns 438 shares of the company’s stock valued at $40,000 after purchasing an additional 153 shares during the last quarter. Finally, Aspen Grove Capital LLC lifted its holdings in VanEck Pharmaceutical ETF by 0.7% in the fourth quarter. Aspen Grove Capital LLC now owns 26,209 shares of the company’s stock valued at $2,704,000 after buying an additional 186 shares during the period.

About VanEck Pharmaceutical ETF

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.