VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Strong Trading Volume Following Dividend Announcement

VanEck Pharmaceutical ETF (NASDAQ:PPH) saw strong trading volume on Monday after the company announced a dividend. 927,208 shares traded hands during trading, an increase of 110% from the previous session’s volume of 441,613 shares.The stock last traded at $104.1250 and had previously closed at $104.43.

The newly announced dividend which will be paid on Wednesday, December 31st. Investors of record on Monday, December 29th will be given a dividend of $0.3106 per share. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 29th.

VanEck Pharmaceutical ETF Stock Down 0.3%

The company’s 50-day moving average is $98.30 and its 200-day moving average is $91.94. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PPH. CWM LLC grew its position in VanEck Pharmaceutical ETF by 167.9% in the second quarter. CWM LLC now owns 375 shares of the company’s stock worth $33,000 after acquiring an additional 235 shares during the period. IFP Advisors Inc lifted its stake in shares of VanEck Pharmaceutical ETF by 53.7% in the 3rd quarter. IFP Advisors Inc now owns 438 shares of the company’s stock valued at $40,000 after purchasing an additional 153 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of VanEck Pharmaceutical ETF in the 3rd quarter valued at $41,000. PNC Financial Services Group Inc. grew its holdings in shares of VanEck Pharmaceutical ETF by 305.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,014 shares of the company’s stock worth $92,000 after purchasing an additional 764 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its position in shares of VanEck Pharmaceutical ETF by 18.1% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,129 shares of the company’s stock worth $187,000 after purchasing an additional 327 shares during 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.