Royal Bank of Canada Increases Stake in VanEck Pharmaceutical ETF $PPH

Royal Bank of Canada increased its position in shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) by 846.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 361,001 shares of the company’s stock after purchasing an additional 322,878 shares during the period. Royal Bank of Canada owned approximately 3.80% of VanEck Pharmaceutical ETF worth $37,501,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PPH. Wellington Management Group LLP purchased a new stake in VanEck Pharmaceutical ETF in the 4th quarter worth about $42,134,000. J.Safra Asset Management Corp grew its stake in shares of VanEck Pharmaceutical ETF by 6.9% during the fourth quarter. J.Safra Asset Management Corp now owns 305,472 shares of the company’s stock valued at $31,516,000 after buying an additional 19,685 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 last quarter. Revere Asset Management Inc purchased a new stake in shares of VanEck Pharmaceutical ETF in the third quarter worth approximately $15,628,000. Finally, UBS Group AG raised its holdings in shares of VanEck Pharmaceutical ETF by 145.8% in the fourth quarter. UBS Group AG now owns 107,379 shares of the company’s stock worth $11,078,000 after buying an additional 63,692 shares during the period.

VanEck Pharmaceutical ETF Stock Down 1.6%

PPH opened at $108.63 on Tuesday. The business has a fifty day moving average of $107.51 and a 200 day moving average of $105.92. VanEck Pharmaceutical ETF has a 52-week low of $81.74 and a 52-week high of $114.57. The stock has a market cap of $933.13 million, a P/E ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

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

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.