VanEck Pharmaceutical ETF (NASDAQ:PPH) Sets New 12-Month High – Still a Buy?

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $116.79 and last traded at $116.79, with a volume of 17344 shares changing hands. The stock had previously closed at $113.20.

VanEck Pharmaceutical ETF Trading Up 3.5%

The firm has a market capitalization of $989.08 million, a PE ratio of 20.21 and a beta of 0.46. The firm’s fifty day moving average price is $109.03 and its 200 day moving average price is $106.32.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, July 1st were given a dividend of $0.6248 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.50 dividend on an annualized basis and a yield of 2.1%.

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise grew its position in VanEck Pharmaceutical ETF by 6.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,907 shares of the company’s stock worth $198,000 after purchasing an additional 115 shares during the last quarter. CWM LLC raised its position in VanEck Pharmaceutical ETF by 36.3% in the fourth quarter. CWM LLC now owns 511 shares of the company’s stock worth $53,000 after purchasing an additional 136 shares in the last quarter. Arkadios Wealth Advisors raised its position in VanEck Pharmaceutical ETF by 1.8% in the first quarter. Arkadios Wealth Advisors now owns 8,447 shares of the company’s stock worth $877,000 after purchasing an additional 150 shares in the last quarter. IFP Advisors Inc lifted its stake in VanEck Pharmaceutical ETF by 53.7% during the third quarter. IFP Advisors Inc now owns 438 shares of the company’s stock worth $40,000 after purchasing an additional 153 shares during the period. Finally, Aspen Grove Capital LLC lifted its stake in VanEck Pharmaceutical ETF by 0.7% during the fourth quarter. Aspen Grove Capital LLC now owns 26,209 shares of the company’s stock worth $2,704,000 after purchasing an additional 186 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.