VanEck Pharmaceutical ETF (NASDAQ:PPH) Reaches New 12-Month High – Time to Buy?

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $102.62 and last traded at $102.1620, with a volume of 54847 shares traded. The stock had previously closed at $100.37.

VanEck Pharmaceutical ETF Stock Up 2.0%

The company has a market cap of $1.27 billion, a PE ratio of 20.21 and a beta of 0.54. The stock has a 50-day moving average of $93.08 and a 200-day moving average of $89.50.

VanEck Pharmaceutical ETF Cuts Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.57 annualized dividend and a dividend yield of 1.5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. increased its position in shares of VanEck Pharmaceutical ETF by 987.8% in the third quarter. Citigroup Inc. now owns 718,199 shares of the company’s stock worth $64,896,000 after purchasing an additional 652,175 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of VanEck Pharmaceutical ETF in the 2nd quarter worth $28,587,000. JPMorgan Chase & Co. raised its position in shares of VanEck Pharmaceutical ETF by 2,852.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 255,837 shares of the company’s stock valued at $22,503,000 after buying an additional 247,171 shares in the last quarter. Revere Asset Management Inc bought a new stake in shares of VanEck Pharmaceutical ETF during the 3rd quarter worth $15,628,000. Finally, Verity & Verity LLC purchased a new position in VanEck Pharmaceutical ETF in the second quarter worth $11,551,000.

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.