VanEck Pharmaceutical ETF (NASDAQ:PPH) Sets New 1-Year High – Here’s Why

VanEck Pharmaceutical ETF (NASDAQ:PPH) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $105.56 and last traded at $105.1590, with a volume of 103301 shares changing hands. The stock had previously closed at $103.06.

VanEck Pharmaceutical ETF Stock Up 1.5%

The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54. The business has a 50 day moving average of $99.63 and a 200 day moving average of $92.53.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 29th were given a dividend of $0.3106 per share. The ex-dividend date was Monday, December 29th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%.

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

A number of institutional investors have recently bought and sold shares of PPH. CWM LLC grew its stake in shares of VanEck Pharmaceutical ETF by 167.9% during the 2nd quarter. CWM LLC now owns 375 shares of the company’s stock valued at $33,000 after buying an additional 235 shares during the period. IFP Advisors Inc raised its holdings in shares of VanEck Pharmaceutical ETF by 53.7% during the 3rd quarter. IFP Advisors Inc now owns 438 shares of the company’s stock valued at $40,000 after buying an additional 153 shares during the period. Advisory Services Network LLC acquired a new position in VanEck Pharmaceutical ETF during the 3rd quarter worth approximately $41,000. PNC Financial Services Group Inc. lifted its position in VanEck Pharmaceutical ETF by 305.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,014 shares of the company’s stock worth $92,000 after acquiring an additional 764 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in VanEck Pharmaceutical ETF by 18.1% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,129 shares of the company’s stock worth $187,000 after acquiring an additional 327 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.