VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Strong Trading Volume

VanEck Pharmaceutical ETF (NASDAQ:PPH) saw unusually-strong trading volume on Tuesday . Approximately 58,667 shares were traded during mid-day trading, a decline of 58% from the previous session’s volume of 138,569 shares.The stock last traded at $97.67 and had previously closed at $98.30.

VanEck Pharmaceutical ETF Stock Performance

The business has a 50 day simple moving average of $95.21 and a 200-day simple moving average of $91.57. The firm has a market capitalization of $654.32 million, a price-to-earnings ratio of 21.04 and a beta of 0.72.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, July 5th. Investors of record on Monday, July 1st were given a dividend of $0.3558 per share. The ex-dividend date of this dividend was Monday, July 1st.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PPH. Gladstone Institutional Advisory LLC acquired a new stake in VanEck Pharmaceutical ETF during the fourth quarter worth $3,818,000. Trexquant Investment LP purchased a new stake in VanEck Pharmaceutical ETF in the 4th quarter valued at about $504,000. Assetmark Inc. lifted its position in VanEck Pharmaceutical ETF by 107.5% in the fourth quarter. Assetmark Inc. now owns 5,485 shares of the company’s stock valued at $446,000 after buying an additional 2,841 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in VanEck Pharmaceutical ETF by 2.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,296 shares of the company’s stock worth $594,000 after buying an additional 185 shares during the period. Finally, Avestar Capital LLC acquired a new stake in shares of VanEck Pharmaceutical ETF during the fourth quarter valued at about $4,284,000.

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.