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

VanEck Pharmaceutical ETF (NASDAQ:PPHGet Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $117.98 and last traded at $117.86, with a volume of 37106 shares traded. The stock had previously closed at $116.48.

VanEck Pharmaceutical ETF Price Performance

The firm’s 50 day simple moving average is $109.85 and its 200-day simple moving average is $106.59. The company has a market cap of $993.05 million, a price-to-earnings ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, July 1st were given a $0.6248 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.1%.

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WT Wealth Management grew its stake in shares of VanEck Pharmaceutical ETF by 19.6% in the 1st quarter. WT Wealth Management now owns 50,384 shares of the company’s stock valued at $5,234,000 after purchasing an additional 8,252 shares during the last quarter. IMC Chicago LLC acquired a new stake in shares of VanEck Pharmaceutical ETF during the fourth quarter worth $1,707,000. BNP Paribas Financial Markets grew its position in VanEck Pharmaceutical ETF by 176.2% in the 4th quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock valued at $30,951,000 after buying an additional 191,371 shares during the last quarter. Leuthold Group LLC acquired a new position in VanEck Pharmaceutical ETF in the 4th quarter valued at $906,000. Finally, Independent Financial Group LLC acquired a new position in VanEck Pharmaceutical ETF in the 1st quarter valued at $532,000.

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.