Independent Financial Group LLC Acquires Shares of 5,118 VanEck Pharmaceutical ETF $PPH

Independent Financial Group LLC bought a new position in shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) in the first quarter, Holdings Channel.com reports. The firm bought 5,118 shares of the company’s stock, valued at approximately $532,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AlphaCore Capital LLC purchased a new position in shares of VanEck Pharmaceutical ETF in the fourth quarter worth about $31,000. Group One Trading LLC purchased a new stake in shares of VanEck Pharmaceutical ETF during the 4th quarter valued at approximately $36,000. IFP Advisors Inc boosted its holdings in VanEck Pharmaceutical ETF by 53.7% in the 3rd quarter. IFP Advisors Inc now owns 438 shares of the company’s stock worth $40,000 after buying an additional 153 shares during the period. Advisory Services Network LLC bought a new position in VanEck Pharmaceutical ETF in the 3rd quarter worth approximately $41,000. Finally, EFG International AG bought a new position in VanEck Pharmaceutical ETF in the 4th quarter worth approximately $44,000.

VanEck Pharmaceutical ETF Trading Up 1.2%

VanEck Pharmaceutical ETF stock opened at $109.95 on Friday. The firm has a 50 day simple moving average of $106.34 and a 200 day simple moving average of $105.61. VanEck Pharmaceutical ETF has a 1-year low of $81.74 and a 1-year high of $112.58. The firm has a market capitalization of $938.97 million, a price-to-earnings ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, July 1st were issued a $0.6248 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, July 1st.

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.