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

VanEck Pharmaceutical ETF (NASDAQ:PPHGet Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $117.98 and last traded at $117.86, with a volume of 37106 shares changing hands. The stock had previously closed at $116.48.

VanEck Pharmaceutical ETF Trading Down 1.7%

The firm has a 50-day moving average of $110.34 and a 200-day moving average of $106.72. The stock has a market capitalization of $978.03 million, a price-to-earnings ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.6248 per share. This represents a $2.50 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, July 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. lifted its holdings in shares of VanEck Pharmaceutical ETF by 130.0% during the second quarter. TD Waterhouse Canada Inc. now owns 230 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. AlphaCore Capital LLC acquired a new position in VanEck Pharmaceutical ETF in the 4th quarter worth approximately $31,000. Group One Trading LLC acquired a new position in VanEck Pharmaceutical ETF in the 4th quarter worth approximately $36,000. IFP Advisors Inc increased 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. Finally, Advisory Services Network LLC purchased a new position in VanEck Pharmaceutical ETF during the 3rd quarter worth approximately $41,000.

About VanEck Pharmaceutical ETF

(Get Free Report)

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.

Further Reading

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