VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Unusually-High Trading Volume – Here’s Why

VanEck Pharmaceutical ETF (NASDAQ:PPH) saw an uptick in trading volume on Tuesday . 110,990 shares changed hands during mid-day trading, a decline of 53% from the previous session’s volume of 233,820 shares.The stock last traded at $85.09 and had previously closed at $86.31.

VanEck Pharmaceutical ETF Stock Performance

The company has a market capitalization of $556.93 million, a price-to-earnings ratio of 21.04 and a beta of 0.72. The business’s 50 day moving average is $88.09 and its 200 day moving average is $92.20.

VanEck Pharmaceutical ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 27th were paid a dividend of $0.411 per share. This is an increase from VanEck Pharmaceutical ETF’s previous dividend of $0.36. The ex-dividend date was Friday, December 27th.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPH. Stifel Financial Corp grew its stake in VanEck Pharmaceutical ETF by 13.4% during the 3rd quarter. Stifel Financial Corp now owns 7,810 shares of the company’s stock valued at $742,000 after purchasing an additional 924 shares during the last quarter. Jane Street Group LLC increased its holdings in VanEck Pharmaceutical ETF by 124.0% in the 3rd quarter. Jane Street Group LLC now owns 19,436 shares of the company’s stock worth $1,847,000 after buying an additional 10,759 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in VanEck Pharmaceutical ETF by 1.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 160,039 shares of the company’s stock worth $14,641,000 after buying an additional 2,694 shares during the last quarter. Renaissance Technologies LLC lifted its stake in VanEck Pharmaceutical ETF by 85.0% during the 2nd quarter. Renaissance Technologies LLC now owns 25,900 shares of the company’s stock valued at $2,369,000 after acquiring an additional 11,902 shares during the period. Finally, FMR LLC boosted its holdings in shares of VanEck Pharmaceutical ETF by 12.5% in the 3rd quarter. FMR LLC now owns 1,905 shares of the company’s stock valued at $181,000 after acquiring 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.