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

VanEck Pharmaceutical ETF (NASDAQ:PPH) reached a new 52-week high during trading on Tuesday . The company traded as high as $102.62 and last traded at $102.1620, with a volume of 54847 shares trading hands. The stock had previously closed at $100.37.

VanEck Pharmaceutical ETF Stock Up 2.0%

The company has a market cap of $1.27 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54. The firm has a 50 day moving average price of $93.08 and a two-hundred day moving average price of $89.50.

VanEck Pharmaceutical ETF Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC boosted its stake in shares of VanEck Pharmaceutical ETF by 167.9% in the 2nd quarter. CWM LLC now owns 375 shares of the company’s stock valued at $33,000 after purchasing an additional 235 shares during the last quarter. Advisory Services Network LLC acquired a new position in VanEck Pharmaceutical ETF in the third quarter valued at $41,000. Banque Cantonale Vaudoise bought a new stake in VanEck Pharmaceutical ETF during the first quarter valued at $57,000. PNC Financial Services Group Inc. grew its holdings in VanEck Pharmaceutical ETF by 305.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,014 shares of the company’s stock worth $92,000 after acquiring an additional 764 shares during the period. Finally, AE Wealth Management LLC grew its holdings in VanEck Pharmaceutical ETF by 118.4% during the 1st quarter. AE Wealth Management LLC now owns 1,046 shares of the company’s stock worth $95,000 after acquiring an additional 567 shares during the period.

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.