VanEck Pharmaceutical ETF (NASDAQ:PPH) Reaches New 12-Month High – Time to Buy?

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $107.91 and last traded at $107.6490, with a volume of 78726 shares trading hands. The stock had previously closed at $107.01.

VanEck Pharmaceutical ETF Price Performance

The firm’s 50 day moving average price is $103.12 and its 200 day moving average price is $94.61. The stock has a market capitalization of $1.20 billion, a P/E ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 29th were paid a dividend of $0.3106 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

A number of institutional investors have recently bought and sold shares of PPH. CWM LLC grew 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 worth $33,000 after acquiring an additional 235 shares during the period. IFP Advisors Inc grew its stake in VanEck Pharmaceutical ETF by 53.7% in the third quarter. IFP Advisors Inc now owns 438 shares of the company’s stock worth $40,000 after purchasing an additional 153 shares during the period. Advisory Services Network LLC bought a new position in VanEck Pharmaceutical ETF in the third quarter worth $41,000. Farther Finance Advisors LLC lifted its position in VanEck Pharmaceutical ETF by 64.7% during the fourth quarter. Farther Finance Advisors LLC now owns 718 shares of the company’s stock valued at $74,000 after buying an additional 282 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $92,000 after buying an additional 764 shares in 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.