VanEck Pharmaceutical ETF (NASDAQ:PPH) Reaches New 52-Week High – Should You Buy?

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $105.56 and last traded at $105.1590, with a volume of 103301 shares. The stock had previously closed at $103.06.

VanEck Pharmaceutical ETF Trading Up 1.5%

The firm’s 50-day simple moving average is $99.63 and its two-hundred day simple moving average is $92.53. The stock has a market capitalization of $1.30 billion, a PE ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

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

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

Institutional investors have recently bought and sold shares of the business. Citigroup Inc. grew its stake in VanEck Pharmaceutical ETF by 987.8% during the 3rd quarter. Citigroup Inc. now owns 718,199 shares of the company’s stock valued at $64,896,000 after acquiring an additional 652,175 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of VanEck Pharmaceutical ETF in the second quarter worth approximately $28,587,000. JPMorgan Chase & Co. boosted its holdings in shares of VanEck Pharmaceutical ETF by 2,852.2% during the second quarter. JPMorgan Chase & Co. now owns 255,837 shares of the company’s stock worth $22,503,000 after purchasing an additional 247,171 shares during the period. Revere Asset Management Inc purchased a new position in VanEck Pharmaceutical ETF during the third quarter valued at approximately $15,628,000. Finally, Verity & Verity LLC purchased a new position in VanEck Pharmaceutical ETF during the second quarter valued at approximately $11,551,000.

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.