VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Strong Trading Volume – Still a Buy?

VanEck Pharmaceutical ETF (NASDAQ:PPH) saw unusually-strong trading volume on Tuesday . Approximately 110,990 shares were traded during trading, a decline of 53% from the previous session’s volume of 233,820 shares.The stock last traded at $85.09 and had previously closed at $86.31.

VanEck Pharmaceutical ETF Trading Up 1.0 %

The firm has a market cap of $556.93 million, a price-to-earnings ratio of 21.04 and a beta of 0.72. The company has a fifty day moving average price of $88.09 and a 200-day moving average price of $92.20.

VanEck Pharmaceutical ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 27th were given a $0.411 dividend. The ex-dividend date was Friday, December 27th. This is a positive change from VanEck Pharmaceutical ETF’s previous dividend of $0.36.

Institutional Trading of VanEck Pharmaceutical ETF

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of VanEck Pharmaceutical ETF by 12.5% in the third quarter. FMR LLC now owns 1,905 shares of the company’s stock worth $181,000 after acquiring an additional 212 shares during the period. Edge Financial Advisors LLC acquired a new position in VanEck Pharmaceutical ETF in the 3rd quarter worth about $263,000. Harbour Investments Inc. boosted its position in VanEck Pharmaceutical ETF by 16.6% during the third quarter. Harbour Investments Inc. now owns 3,425 shares of the company’s stock worth $325,000 after purchasing an additional 488 shares in the last quarter. Townsquare Capital LLC grew its holdings in VanEck Pharmaceutical ETF by 3.8% in the third quarter. Townsquare Capital LLC now owns 3,519 shares of the company’s stock valued at $334,000 after purchasing an additional 130 shares during the period. Finally, Assetmark Inc. increased its position in shares of VanEck Pharmaceutical ETF by 5.8% in the third quarter. Assetmark Inc. now owns 6,491 shares of the company’s stock valued at $617,000 after buying an additional 354 shares in the last quarter.

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.