VanEck Pharmaceutical ETF (NASDAQ:PPH) Shares Down 0.5% – What’s Next?

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s share price dropped 0.5% on Tuesday . The company traded as low as $110.01 and last traded at $110.53. Approximately 97,953 shares were traded during trading, a decline of 68% from the average session volume of 308,950 shares. The stock had previously closed at $111.14.

VanEck Pharmaceutical ETF Stock Down 0.5%

The stock has a 50 day simple moving average of $111.71 and a 200 day simple moving average of $106.91. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.6248 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, July 1st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in shares of VanEck Pharmaceutical ETF by 846.9% during the first quarter. Royal Bank of Canada now owns 361,001 shares of the company’s stock valued at $37,501,000 after purchasing an additional 322,878 shares during the last quarter. J.Safra Asset Management Corp increased its stake in VanEck Pharmaceutical ETF by 6.9% in the 4th quarter. J.Safra Asset Management Corp now owns 305,472 shares of the company’s stock worth $31,516,000 after purchasing an additional 19,685 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in 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 during the period. Adamsbrown Wealth Consultants LLC raised its holdings in VanEck Pharmaceutical ETF by 3.6% during the 2nd quarter. Adamsbrown Wealth Consultants LLC now owns 154,114 shares of the company’s stock worth $16,852,000 after buying an additional 5,303 shares during the period. Finally, Bank of America Corp DE raised its holdings in VanEck Pharmaceutical ETF by 139.3% during 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 period.

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.