VanEck Pharmaceutical ETF (NASDAQ:PPH) Hits New 12-Month Low – Time to Sell?

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $83.80 and last traded at $83.89, with a volume of 227682 shares trading hands. The stock had previously closed at $88.89.

VanEck Pharmaceutical ETF Stock Down 5.6 %

The company has a market capitalization of $611.56 million, a PE ratio of 24.31 and a beta of 0.60. The stock’s 50 day moving average is $90.93 and its two-hundred day moving average is $90.43.

VanEck Pharmaceutical ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Tuesday, April 1st were issued a $0.5245 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This is an increase from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.31. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.50%.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of VanEck Pharmaceutical ETF during the fourth quarter valued at about $29,000. Activest Wealth Management purchased a new position in VanEck Pharmaceutical ETF in the fourth quarter worth $32,000. Park Square Financial Group LLC purchased a new position in VanEck Pharmaceutical ETF in the fourth quarter worth $43,000. Tidemark LLC increased its position in shares of VanEck Pharmaceutical ETF by 123.6% during the fourth quarter. Tidemark LLC now owns 1,183 shares of the company’s stock worth $102,000 after purchasing an additional 654 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of VanEck Pharmaceutical ETF by 12.5% during the 3rd quarter. FMR LLC now owns 1,905 shares of the company’s stock valued at $181,000 after purchasing an additional 212 shares during the last quarter.

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.