VanEck Pharmaceutical ETF (NASDAQ:PPH) Sets New 12-Month High – Here’s Why

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s stock price hit a new 52-week high during mid-day trading on Friday. The company traded as high as $119.90 and last traded at $119.5180, with a volume of 580 shares. The stock had previously closed at $116.92.

VanEck Pharmaceutical ETF Trading Up 3.0%

The business has a fifty day moving average of $112.51 and a 200 day moving average of $107.88. The company has a market capitalization of $1.11 billion, a PE ratio of 20.21 and a beta of 0.45.

VanEck Pharmaceutical ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, October 1st. This is a negative change from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.6248.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. increased its holdings in shares of VanEck Pharmaceutical ETF by 130.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 230 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in VanEck Pharmaceutical ETF by 1.8% in 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 in the last quarter. Axxcess Wealth Management LLC lifted its holdings in VanEck Pharmaceutical ETF by 2.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 9,741 shares of the company’s stock worth $1,066,000 after buying an additional 188 shares during the last quarter. IFP Advisors Inc lifted its position in shares of VanEck Pharmaceutical ETF by 115.7% in the 2nd quarter. IFP Advisors Inc now owns 537 shares of the company’s stock worth $59,000 after buying an additional 288 shares during the last quarter. Finally, Blue Chip Partners LLC raised its position in shares of VanEck Pharmaceutical ETF by 11.8% during the 1st quarter. Blue Chip Partners LLC now owns 3,889 shares of the company’s stock worth $404,000 after purchasing an additional 411 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.