VanEck Pharmaceutical ETF (NASDAQ:PPH) Hits New 52-Week High – Should You Buy?

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s share price hit a new 52-week high on Monday . The company traded as high as $111.47 and last traded at $110.4580, with a volume of 5325 shares. The stock had previously closed at $110.45.

VanEck Pharmaceutical ETF Trading Down 0.5%

The business has a 50 day simple moving average of $103.98 and a 200-day simple moving average of $95.66. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 29th were issued a dividend of $0.3106 per share. The ex-dividend date was Monday, December 29th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaCore Capital LLC acquired a new position in shares of VanEck Pharmaceutical ETF during the fourth quarter worth about $31,000. CWM LLC raised its holdings in shares of 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 buying an additional 235 shares during the period. IFP Advisors Inc grew its position in VanEck Pharmaceutical ETF by 53.7% in the third quarter. IFP Advisors Inc now owns 438 shares of the company’s stock valued at $40,000 after acquiring an additional 153 shares in the last quarter. Advisory Services Network LLC acquired a new stake in VanEck Pharmaceutical ETF in the third quarter valued at approximately $41,000. Finally, Farther Finance Advisors LLC grew its position in VanEck Pharmaceutical ETF by 64.7% in the fourth quarter. Farther Finance Advisors LLC now owns 718 shares of the company’s stock valued at $74,000 after acquiring an additional 282 shares in the last quarter.

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.