VanEck Pharmaceutical ETF (NASDAQ:PPH) Sets New 1-Year High – Here’s What Happened

VanEck Pharmaceutical ETF (NASDAQ:PPH) reached a new 52-week high during trading on Thursday. The company traded as high as $118.03 and last traded at $116.6310, with a volume of 238,071 shares trading hands. The stock had previously closed at $115.58.

VanEck Pharmaceutical ETF Price Performance

The stock has a market cap of $1.07 billion, a P/E ratio of 20.21 and a beta of 0.45. The company has a fifty day moving average of $112.41 and a 200 day moving average of $108.19.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.3%. This is a drop from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.6248.

Institutional Trading of VanEck Pharmaceutical ETF

Several institutional investors have recently modified their holdings of PPH. TD Waterhouse Canada Inc. lifted its holdings in VanEck Pharmaceutical ETF by 130.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 230 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares during the last quarter. IFP Advisors Inc boosted its position in shares of VanEck Pharmaceutical ETF by 115.7% during the 2nd quarter. IFP Advisors Inc now owns 537 shares of the company’s stock valued at $59,000 after purchasing an additional 288 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of VanEck Pharmaceutical ETF in the 2nd quarter worth approximately $68,000. Integrated Wealth Concepts LLC acquired a new position in shares of VanEck Pharmaceutical ETF in the 2nd quarter worth approximately $78,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of VanEck Pharmaceutical ETF in the 1st quarter worth approximately $79,000.

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.