VanEck Pharmaceutical ETF (NASDAQ:PPH) Hits New 52-Week High – Here’s What Happened

Shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $105.56 and last traded at $105.1590, with a volume of 103301 shares. The stock had previously closed at $103.06.

VanEck Pharmaceutical ETF Stock Performance

The company has a 50-day simple moving average of $100.21 and a two-hundred day simple moving average of $92.75. The firm has a market capitalization of $1.31 billion, a P/E ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 29th were given a dividend of $0.3106 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $1.24 annualized dividend and a yield of 1.2%.

Institutional Trading of VanEck Pharmaceutical ETF

A number of hedge funds and other institutional investors have recently modified their holdings of PPH. CWM LLC lifted its position in VanEck Pharmaceutical ETF by 167.9% during the 2nd quarter. CWM LLC now owns 375 shares of the company’s stock valued at $33,000 after acquiring an additional 235 shares during the period. IFP Advisors Inc increased its stake in shares of VanEck Pharmaceutical ETF by 53.7% during the third quarter. IFP Advisors Inc now owns 438 shares of the company’s stock valued at $40,000 after purchasing an additional 153 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of VanEck Pharmaceutical ETF during the third quarter valued at approximately $41,000. PNC Financial Services Group Inc. boosted its position in shares of VanEck Pharmaceutical ETF by 305.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,014 shares of the company’s stock worth $92,000 after purchasing an additional 764 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of VanEck Pharmaceutical ETF by 18.1% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,129 shares of the company’s stock worth $187,000 after purchasing an additional 327 shares in the last quarter.

VanEck Pharmaceutical ETF Company Profile

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.