VanEck Pharmaceutical ETF (NASDAQ:PPH) Shares Down 0.5% – Here’s Why

VanEck Pharmaceutical ETF (NASDAQ:PPH – Get Free Report)’s share price fell 0.5% on Tuesday . The stock traded as low as $110.01 and last traded at $110.53. 97,953 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 308,950 shares. The stock had previously closed at $111.14.

VanEck Pharmaceutical ETF Price Performance

The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 20.21 and a beta of 0.46. The stock’s fifty day moving average price is $111.71 and its 200-day moving average price is $106.91.

Get VanEck Pharmaceutical ETF alerts:

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.6248 per share. This represents a $2.50 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, July 1st.

Institutional Trading of VanEck Pharmaceutical ETF

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of VanEck Pharmaceutical ETF by 846.9% in the first quarter. Royal Bank of Canada now owns 361,001 shares of the company’s stock worth $37,501,000 after buying an additional 322,878 shares during the period. BNP Paribas Financial Markets raised its position in VanEck Pharmaceutical ETF by 176.2% during the fourth 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 period. Bank of America Corp DE raised its position in VanEck Pharmaceutical ETF by 139.3% during the first quarter. Bank of America Corp DE now owns 143,609 shares of the company’s stock valued at $14,918,000 after buying an additional 83,598 shares during the period. Fluent Financial LLC acquired a new position in VanEck Pharmaceutical ETF during the second quarter valued at $4,264,000. Finally, Belvedere Trading LLC purchased a new stake in VanEck Pharmaceutical ETF in the 4th quarter worth about $3,484,000.

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.

Read More

• Five stocks we like better than VanEck Pharmaceutical ETF
• Running on Empty: 3 Energy Plays for Europe’s Deep Freeze
• 3 Healthcare Stocks for 3 Stages of Life
• Curaleaf Tries To Roll Up Aurora In a Hostile Cannabis Bid
• MarketBeat’s Most Downgraded Stocks in Q3: 2 Look Cheap, 1 Looks Risky

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.