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

VanEck Pharmaceutical ETF (NASDAQ:PPH) hit a new 52-week high on Tuesday . The stock traded as high as $104.40 and last traded at $103.9650, with a volume of 138043 shares. The stock had previously closed at $102.97.

VanEck Pharmaceutical ETF Trading Up 0.7%

The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54. The firm’s 50 day simple moving average is $97.32 and its 200-day simple moving average is $91.53.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.3931 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Wednesday, October 1st.

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

A number of institutional investors have recently added to or reduced their stakes in PPH. Flow Traders U.S. LLC purchased a new position in shares of VanEck Pharmaceutical ETF during the 1st quarter worth approximately $435,000. Northwestern Mutual Wealth Management Co. grew its holdings in VanEck Pharmaceutical ETF by 329.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,237 shares of the company’s stock worth $660,000 after acquiring an additional 5,553 shares during the period. Royal Bank of Canada raised its position in VanEck Pharmaceutical ETF by 53.3% in the first quarter. Royal Bank of Canada now owns 67,596 shares of the company’s stock worth $6,160,000 after acquiring an additional 23,491 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in VanEck Pharmaceutical ETF by 7.3% in the first quarter. NewEdge Advisors LLC now owns 8,873 shares of the company’s stock valued at $809,000 after acquiring an additional 607 shares during the period. Finally, Belpointe Asset Management LLC purchased a new stake in shares of VanEck Pharmaceutical ETF during the 1st quarter worth $528,000.

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.