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

VanEck Pharmaceutical ETF (NASDAQ:PPH)’s stock price hit a new 52-week high during trading on Friday. The stock traded as high as $119.90 and last traded at $119.5180, with a volume of 580 shares. The stock had previously closed at $116.92.

VanEck Pharmaceutical ETF Stock Up 3.0%

The business has a 50-day moving average price of $112.51 and a 200-day moving average price of $107.88. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 20.21 and a beta of 0.45.

VanEck Pharmaceutical ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.2%. This is a drop from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.6248. The ex-dividend date was Thursday, October 1st.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in shares of VanEck Pharmaceutical ETF by 846.9% in the first quarter. Royal Bank of Canada now owns 361,001 shares of the company’s stock valued at $37,501,000 after acquiring an additional 322,878 shares during the last quarter. Adamsbrown Wealth Consultants LLC boosted its stake in VanEck Pharmaceutical ETF by 3.6% in the second quarter. Adamsbrown Wealth Consultants LLC now owns 154,114 shares of the company’s stock worth $16,852,000 after purchasing an additional 5,303 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of VanEck Pharmaceutical ETF by 139.3% during the first 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 during the last quarter. Rye Brook Capital LLC grew its holdings in shares of VanEck Pharmaceutical ETF by 4.3% during the third quarter. Rye Brook Capital LLC now owns 70,255 shares of the company’s stock worth $7,691,000 after purchasing an additional 2,925 shares during the last quarter. Finally, Fluent Financial LLC bought a new stake in shares of VanEck Pharmaceutical ETF during the second quarter worth $4,264,000.

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.