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

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $117.98 and last traded at $117.86, with a volume of 37106 shares. The stock had previously closed at $116.48.

VanEck Pharmaceutical ETF Price Performance

The stock has a market cap of $993.05 million, a price-to-earnings ratio of 20.21 and a beta of 0.46. The stock’s 50-day moving average is $109.85 and its 200 day moving average is $106.59.

VanEck Pharmaceutical ETF Cuts Dividend

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

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. increased its holdings in shares of VanEck Pharmaceutical ETF by 130.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 230 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. AlphaCore Capital LLC acquired a new stake in shares of VanEck Pharmaceutical ETF in the fourth quarter valued at about $31,000. Group One Trading LLC purchased a new stake in VanEck Pharmaceutical ETF during the fourth quarter worth about $36,000. IFP Advisors Inc boosted its stake 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 worth $40,000 after acquiring an additional 153 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in VanEck Pharmaceutical ETF in the third quarter valued at $41,000.

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.