VanEck Pharmaceutical ETF (NASDAQ:PPH) Sets New 52-Week High – Here’s What Happened

by · The Markets Daily

VanEck Pharmaceutical ETF (NASDAQ:PPH – Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday. The stock 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 Stock Performance

The business’s fifty day moving average price is $112.22 and its 200-day moving average price is $108.05. The stock has a market cap of $1.17 billion, a PE ratio of 20.21 and a beta of 0.45.

VanEck Pharmaceutical ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.2%. This is a negative change from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.6248. The ex-dividend date was Thursday, October 1st.

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPH. Banque Cantonale Vaudoise grew its position in VanEck Pharmaceutical ETF by 6.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,907 shares of the company’s stock worth $198,000 after purchasing an additional 115 shares during the period. TD Waterhouse Canada Inc. raised its stake in VanEck Pharmaceutical ETF by 130.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 230 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Arkadios Wealth Advisors raised its stake in VanEck Pharmaceutical ETF by 1.8% during the 1st quarter. Arkadios Wealth Advisors now owns 8,447 shares of the company’s stock valued at $877,000 after buying an additional 150 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of VanEck Pharmaceutical ETF by 2.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 9,741 shares of the company’s stock valued at $1,066,000 after buying an additional 188 shares during the period. Finally, IFP Advisors Inc lifted its holdings 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 buying an additional 288 shares during the period.

About VanEck Pharmaceutical ETF

(Get Free Report)

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.

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