Fluent Financial LLC Makes New $4.26 Million Investment in VanEck Pharmaceutical ETF $PPH

Fluent Financial LLC bought a new position in VanEck Pharmaceutical ETF (NASDAQ:PPH) during the second quarter, HoldingsChannel.com reports. The fund bought 38,992 shares of the company’s stock, valued at approximately $4,264,000. VanEck Pharmaceutical ETF comprises about 1.5% of Fluent Financial LLC’s holdings, making the stock its 18th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of PPH. Wellington Management Group LLP purchased a new position in shares of VanEck Pharmaceutical ETF in the 4th quarter worth about $42,134,000. Royal Bank of Canada grew its position in VanEck Pharmaceutical ETF by 846.9% during the 1st 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. BNP Paribas Financial Markets increased its stake 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 valued at $30,951,000 after purchasing an additional 191,371 shares in the last quarter. Revere Asset Management Inc bought a new stake in shares of VanEck Pharmaceutical ETF during the third quarter valued at approximately $15,628,000. Finally, Bank of America Corp DE increased its holdings 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 purchasing an additional 83,598 shares in the last quarter.

VanEck Pharmaceutical ETF Price Performance

PPH stock opened at $111.20 on Monday. The stock has a market capitalization of $938.53 million, a P/E ratio of 20.21 and a beta of 0.46. The business has a fifty day moving average price of $107.92 and a 200-day moving average price of $106.04. VanEck Pharmaceutical ETF has a 1-year low of $82.37 and a 1-year high of $114.57.

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 given a dividend of $0.6248 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.50 annualized dividend and a yield of 2.2%.

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.