VanEck Pharmaceutical ETF (NASDAQ:PPH) Reaches New 1-Year High – Time to Buy?

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $109.37 and last traded at $107.59, with a volume of 512623 shares changing hands. The stock had previously closed at $106.81.

VanEck Pharmaceutical ETF Stock Up 2.4%

The business has a 50 day moving average price of $103.61 and a two-hundred day moving average price of $95.21. The stock has a market cap of $1.19 billion, a P/E ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 29th were paid a $0.3106 dividend. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, December 29th.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Hedge funds have recently modified their holdings of the stock. Citigroup Inc. increased its stake in VanEck Pharmaceutical ETF by 987.8% in the 3rd quarter. Citigroup Inc. now owns 718,199 shares of the company’s stock worth $64,896,000 after acquiring an additional 652,175 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of VanEck Pharmaceutical ETF in the second quarter valued at $28,587,000. JPMorgan Chase & Co. increased its position in VanEck Pharmaceutical ETF by 2,852.2% in the second quarter. JPMorgan Chase & Co. now owns 255,837 shares of the company’s stock worth $22,503,000 after purchasing an additional 247,171 shares during the last quarter. Revere Asset Management Inc bought a new stake in VanEck Pharmaceutical ETF in the third quarter worth $15,628,000. Finally, Verity & Verity LLC purchased a new stake in VanEck Pharmaceutical ETF during the second quarter valued at $11,551,000.

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.