VanEck Pharmaceutical ETF (NASDAQ:PPH) Sets New 52-Week High – Here’s Why

Shares of VanEck Pharmaceutical ETF (NASDAQ:PPHGet Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $116.79 and last traded at $116.79, with a volume of 17344 shares trading hands. The stock had previously closed at $113.20.

VanEck Pharmaceutical ETF Trading Down 1.9%

The business’s 50-day moving average is $109.43 and its two-hundred day moving average is $106.46. The firm has a market cap of $971.28 million, a P/E ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, July 1st were issued a $0.6248 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.50 annualized dividend and a dividend yield of 2.2%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. AlphaCore Capital LLC acquired a new position in shares of VanEck Pharmaceutical ETF in the 4th quarter worth approximately $31,000. Group One Trading LLC acquired a new position in shares of VanEck Pharmaceutical ETF in the fourth quarter worth about $36,000. IFP Advisors Inc increased its position in shares of VanEck Pharmaceutical ETF by 53.7% in the third 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. Advisory Services Network LLC purchased a new position in shares of VanEck Pharmaceutical ETF in the third quarter worth approximately $41,000. Finally, EFG International AG acquired a new stake in shares of VanEck Pharmaceutical ETF during the fourth quarter valued at approximately $44,000.

About VanEck Pharmaceutical ETF

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for VanEck Pharmaceutical ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VanEck Pharmaceutical ETF and related companies with MarketBeat.com's FREE daily email newsletter.