Short Interest in VanEck Pharmaceutical ETF (NASDAQ:PPH) Declines By 17.3%

VanEck Pharmaceutical ETF (NASDAQ:PPH) was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 1,670,000 shares, a decline of 17.3% from the July 31st total of 2,020,000 shares. Based on an average daily volume of 142,100 shares, the days-to-cover ratio is presently 11.8 days.

VanEck Pharmaceutical ETF Trading Up 0.7 %

Shares of NASDAQ PPH opened at $99.43 on Friday. VanEck Pharmaceutical ETF has a 1-year low of $74.05 and a 1-year high of $99.44. The stock has a fifty day simple moving average of $93.88 and a two-hundred day simple moving average of $90.87. The firm has a market cap of $670.16 million, a price-to-earnings ratio of 21.04 and a beta of 0.72.

VanEck Pharmaceutical ETF Cuts Dividend

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

Institutional Trading of VanEck Pharmaceutical ETF

Several hedge funds have recently added to or reduced their stakes in the business. Private Advisory Group LLC lifted its stake in shares of VanEck Pharmaceutical ETF by 0.3% in the 2nd quarter. Private Advisory Group LLC now owns 37,994 shares of the company’s stock valued at $3,476,000 after purchasing an additional 128 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of 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 valued at $594,000 after purchasing an additional 185 shares during the last quarter. Optimum Investment Advisors bought a new stake in shares of VanEck Pharmaceutical ETF in the 2nd quarter worth approximately $27,000. Beck Capital Management LLC grew its stake in shares of VanEck Pharmaceutical ETF by 1.5% in the 2nd quarter. Beck Capital Management LLC now owns 21,274 shares of the company’s stock worth $1,946,000 after buying an additional 317 shares during the last quarter. Finally, Aspiriant LLC raised its stake in VanEck Pharmaceutical ETF by 5.6% during the first quarter. Aspiriant LLC now owns 6,000 shares of the company’s stock valued at $544,000 after buying an additional 320 shares during the last quarter.

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.