Shares of VanEck Pharmaceutical ETF (NASDAQ:PPH – Get Free Report) reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $123.10 and last traded at $122.3040, with a volume of 594 shares trading hands. The stock had previously closed at $122.11.
VanEck Pharmaceutical ETF Price Performance
The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 20.21 and a beta of 0.43. The stock has a fifty day moving average of $112.77 and a two-hundred day moving average of $108.17.
VanEck Pharmaceutical ETF Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Thursday, October 1st were given a $0.36 dividend. This is a drop from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.6248. The ex-dividend date was Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.2%.
Hedge Funds Weigh In On VanEck Pharmaceutical ETF
A number of hedge funds have recently made changes to their positions in PPH. New York Life Investment Management LLC bought a new position in shares of VanEck Pharmaceutical ETF in the third quarter valued at approximately $2,244,000. Leuthold Group LLC bought a new position in VanEck Pharmaceutical ETF in the 3rd quarter valued at $711,000. Burke & Herbert Bank & Trust Co. purchased a new stake in shares of VanEck Pharmaceutical ETF during the 3rd quarter valued at $423,000. Telos Capital Management Inc. bought a new stake in VanEck Pharmaceutical ETF during the third quarter valued at approximately $608,000. Finally, Commonwealth Equity Services LLC bought a new position in VanEck Pharmaceutical ETF in the third quarter valued at $1,171,000.
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.
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