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

VanEck Pharmaceutical ETF (NASDAQ:PPH) reached a new 52-week high on Tuesday . The company traded as high as $114.28 and last traded at $114.12, with a volume of 28136 shares. The stock had previously closed at $111.31.

VanEck Pharmaceutical ETF Trading Down 0.1%

The company has a market capitalization of $985.62 million, a PE ratio of 20.21 and a beta of 0.46. The business has a fifty day moving average of $107.18 and a 200 day moving average of $105.82.

VanEck Pharmaceutical ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, July 1st were paid a dividend of $0.6248 per share. This represents a $2.50 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, July 1st.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of VanEck Pharmaceutical ETF by 53.3% during the first quarter. Royal Bank of Canada now owns 67,596 shares of the company’s stock worth $6,160,000 after acquiring an additional 23,491 shares during the period. NewEdge Advisors LLC grew its stake in VanEck Pharmaceutical ETF by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 8,873 shares of the company’s stock worth $809,000 after purchasing an additional 607 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in VanEck Pharmaceutical ETF by 13,856.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 16,190 shares of the company’s stock worth $1,424,000 after purchasing an additional 16,074 shares during the period. Raymond James Financial Inc. raised its position in VanEck Pharmaceutical ETF by 11.8% in the 2nd quarter. Raymond James Financial Inc. now owns 22,417 shares of the company’s stock valued at $1,972,000 after purchasing an additional 2,363 shares in the last quarter. Finally, Two Sigma Securities LLC boosted its stake in shares of VanEck Pharmaceutical ETF by 40.1% in the 2nd quarter. Two Sigma Securities LLC now owns 4,480 shares of the company’s stock valued at $394,000 after buying an additional 1,282 shares during the period.

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.