VanEck Pharmaceutical ETF (NASDAQ:PPH) Reaches New 1-Year High – Here’s Why

VanEck Pharmaceutical ETF (NASDAQ:PPH) reached a new 52-week high during trading on Tuesday . The company traded as high as $114.28 and last traded at $114.12, with a volume of 28136 shares trading hands. The stock had previously closed at $111.31.

VanEck Pharmaceutical ETF Stock Performance

The firm has a 50 day simple moving average of $106.74 and a two-hundred day simple moving average of $105.71. The firm has a market capitalization of $985.62 million, a P/E ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, July 1st were issued a $0.6248 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.50 annualized dividend and a dividend yield of 2.2%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PPH. Wellington Management Group LLP bought a new stake in VanEck Pharmaceutical ETF in the 4th quarter worth about $42,134,000. Royal Bank of Canada lifted its position in shares of VanEck Pharmaceutical ETF by 846.9% during the 1st quarter. Royal Bank of Canada now owns 361,001 shares of the company’s stock worth $37,501,000 after buying an additional 322,878 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of VanEck Pharmaceutical ETF by 176.2% during the 4th quarter. BNP Paribas Financial Markets now owns 300,000 shares of the company’s stock worth $30,951,000 after buying an additional 191,371 shares in the last quarter. Revere Asset Management Inc purchased a new position in shares of VanEck Pharmaceutical ETF in the 3rd quarter worth approximately $15,628,000. Finally, Bank of America Corp DE boosted its stake in shares of VanEck Pharmaceutical ETF by 139.3% in the 1st quarter. Bank of America Corp DE now owns 143,609 shares of the company’s stock worth $14,918,000 after buying an additional 83,598 shares during the last quarter.

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.