Royal Bank of Canada Buys 322,878 Shares of VanEck Pharmaceutical ETF $PPH

Royal Bank of Canada lifted its stake in shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) by 846.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 361,001 shares of the company’s stock after acquiring an additional 322,878 shares during the quarter. Royal Bank of Canada’s holdings in VanEck Pharmaceutical ETF were worth $37,501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PPH. Banque Cantonale Vaudoise boosted its holdings in shares of VanEck Pharmaceutical ETF by 6.4% in the first quarter. Banque Cantonale Vaudoise now owns 1,907 shares of the company’s stock valued at $198,000 after purchasing an additional 115 shares during the period. CWM LLC increased its holdings in VanEck Pharmaceutical ETF by 36.3% during the 4th quarter. CWM LLC now owns 511 shares of the company’s stock worth $53,000 after purchasing an additional 136 shares during the period. IFP Advisors Inc raised its position in VanEck Pharmaceutical ETF by 53.7% during the 3rd quarter. IFP Advisors Inc now owns 438 shares of the company’s stock valued at $40,000 after purchasing an additional 153 shares in the last quarter. Aspen Grove Capital LLC raised its position in VanEck Pharmaceutical ETF by 0.7% during the 4th quarter. Aspen Grove Capital LLC now owns 26,209 shares of the company’s stock valued at $2,704,000 after purchasing an additional 186 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in VanEck Pharmaceutical ETF by 64.7% during the 4th quarter. Farther Finance Advisors LLC now owns 718 shares of the company’s stock valued at $74,000 after purchasing an additional 282 shares in the last quarter.

VanEck Pharmaceutical ETF Trading Down 1.6%

Shares of PPH stock opened at $108.63 on Tuesday. VanEck Pharmaceutical ETF has a twelve month low of $81.74 and a twelve month high of $114.57. The stock has a fifty day simple moving average of $107.51 and a two-hundred day simple moving average of $105.92. The stock has a market capitalization of $933.13 million, a price-to-earnings ratio of 20.21 and a beta of 0.46.

VanEck Pharmaceutical ETF Cuts Dividend

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

VanEck Pharmaceutical ETF 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.