Short Interest in VanEck Pharmaceutical ETF (NASDAQ:PPH) Rises By 18.0%

VanEck Pharmaceutical ETF (NASDAQ:PPH) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,970,000 shares, a growth of 18.0% from the August 15th total of 1,670,000 shares. Based on an average daily trading volume, of 141,200 shares, the short-interest ratio is presently 14.0 days.

VanEck Pharmaceutical ETF Price Performance

VanEck Pharmaceutical ETF stock traded up $0.78 during midday trading on Monday, reaching $98.30. The stock had a trading volume of 51,215 shares, compared to its average volume of 139,018. The firm’s fifty day simple moving average is $95.08 and its two-hundred day simple moving average is $91.50. VanEck Pharmaceutical ETF has a twelve month low of $74.05 and a twelve month high of $99.51. The firm has a market cap of $662.54 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 paid a $0.3558 dividend. The ex-dividend date of this dividend was Monday, July 1st.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans acquired a new position in VanEck Pharmaceutical ETF in the 2nd quarter worth approximately $16,088,000. Northwestern Mutual Wealth Management Co. lifted its position in VanEck Pharmaceutical ETF by 1.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 160,039 shares of the company’s stock worth $14,641,000 after buying an additional 2,694 shares in the last quarter. Financial Partners Group Inc purchased a new stake in VanEck Pharmaceutical ETF in the 2nd quarter worth approximately $8,701,000. J.Safra Asset Management Corp lifted its position in VanEck Pharmaceutical ETF by 5.9% in the 2nd quarter. J.Safra Asset Management Corp now owns 73,609 shares of the company’s stock worth $6,734,000 after buying an additional 4,084 shares in the last quarter. Finally, Bricktown Capital LLC purchased a new stake in VanEck Pharmaceutical ETF in the 2nd quarter worth approximately $5,904,000.

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.