VanEck Pharmaceutical ETF (NASDAQ:PPH) Stock Price Down 0.9%

Shares of VanEck Pharmaceutical ETF (NASDAQ:PPH – Get Rating) were down 0.9% during trading on Wednesday . The stock traded as low as $76.89 and last traded at $76.92. Approximately 127,165 shares changed hands during trading, a decline of 16% from the average daily volume of 150,563 shares. The stock had previously closed at $77.64.

VanEck Pharmaceutical ETF Stock Down 0.2 %

The business has a 50-day moving average price of $78.73 and a 200-day moving average price of $77.55. The company has a market capitalization of $382.18 million, a price-to-earnings ratio of 16.59 and a beta of 0.72.

VanEck Pharmaceutical ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 10th. Stockholders of record on Tuesday, April 4th were given a dividend of $0.664 per share. The ex-dividend date of this dividend was Monday, April 3rd. This is a positive change from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.24. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.50%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. purchased a new position in shares of VanEck Pharmaceutical ETF in the first quarter worth approximately $1,079,000. JPMorgan Chase & Co. boosted its position in shares of VanEck Pharmaceutical ETF by 8,587.9% in the first quarter. JPMorgan Chase & Co. now owns 51,085 shares of the company’s stock worth $3,966,000 after buying an additional 50,497 shares during the period. Miller Investment Management LP boosted its position in shares of VanEck Pharmaceutical ETF by 9.1% in the first quarter. Miller Investment Management LP now owns 3,190 shares of the company’s stock worth $248,000 after buying an additional 267 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of VanEck Pharmaceutical ETF in the first quarter worth $293,000. Finally, Equitable Holdings Inc. boosted its position in shares of VanEck Pharmaceutical ETF by 15.6% in the first quarter. Equitable Holdings Inc. now owns 5,449 shares of the company’s stock worth $423,000 after buying an additional 736 shares during the period.

VanEck Pharmaceutical ETF Company Profile

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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.