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

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s share price reached a new 52-week high on Monday . The stock traded as high as $95.58 and last traded at $95.2410, with a volume of 114246 shares changing hands. The stock had previously closed at $93.89.

VanEck Pharmaceutical ETF Trading Up 1.3%

The firm has a 50 day moving average price of $90.94 and a 200-day moving average price of $88.62. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Wednesday, October 1st were issued a $0.3931 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, October 1st.

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

Large investors have recently made changes to their positions in the business. Citigroup Inc. lifted its holdings in VanEck Pharmaceutical ETF by 987.8% in the 3rd quarter. Citigroup Inc. now owns 718,199 shares of the company’s stock worth $64,896,000 after buying an additional 652,175 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of VanEck Pharmaceutical ETF during the second quarter valued at about $28,587,000. J.Safra Asset Management Corp increased its stake in shares of VanEck Pharmaceutical ETF by 4.4% during the third quarter. J.Safra Asset Management Corp now owns 285,787 shares of the company’s stock valued at $25,824,000 after acquiring an additional 12,011 shares during the period. Avalon Trust Co grew its holdings in VanEck Pharmaceutical ETF by 0.3% during the first quarter. Avalon Trust Co now owns 283,685 shares of the company’s stock worth $25,852,000 after acquiring an additional 895 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in VanEck Pharmaceutical ETF by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 256,985 shares of the company’s stock worth $23,221,000 after buying an additional 1,148 shares in the last quarter.

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.