VanEck Pharmaceutical ETF (NASDAQ:PPH) Reaches New 1-Year High – Here’s What Happened

VanEck Pharmaceutical ETF (NASDAQ:PPH) hit a new 52-week high on Thursday. The company traded as high as $123.10 and last traded at $122.3040, with a volume of 594 shares traded. The stock had previously closed at $122.11.

VanEck Pharmaceutical ETF Stock Down 0.2%

The stock has a 50-day moving average price of $112.93 and a 200 day moving average price of $108.31. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 20.21 and a beta of 0.43.

VanEck Pharmaceutical ETF Cuts Dividend

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

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. lifted its stake in VanEck Pharmaceutical ETF by 130.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 230 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Latitude Advisors LLC acquired a new position in shares of VanEck Pharmaceutical ETF during the third quarter worth $55,000. Fifth Third Bancorp increased its holdings in VanEck Pharmaceutical ETF by 357.1% in the third quarter. Fifth Third Bancorp now owns 512 shares of the company’s stock valued at $56,000 after buying an additional 400 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of VanEck Pharmaceutical ETF by 115.7% during the 2nd quarter. IFP Advisors Inc now owns 537 shares of the company’s stock valued at $59,000 after buying an additional 288 shares during the period. Finally, North Star Investment Management Corp. bought a new position in VanEck Pharmaceutical ETF in the 3rd quarter worth approximately $64,000.

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.