Raymond James Financial Inc. Acquires New Stake in VanEck Pharmaceutical ETF (NASDAQ:PPH)

Raymond James Financial Inc. bought a new stake in VanEck Pharmaceutical ETF (NASDAQ:PPH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,333 shares of the company’s stock, valued at approximately $1,323,000. Raymond James Financial Inc. owned about 0.25% of VanEck Pharmaceutical ETF at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of VanEck Pharmaceutical ETF in the fourth quarter valued at approximately $29,000. Activest Wealth Management purchased a new stake in VanEck Pharmaceutical ETF in the 4th quarter worth approximately $32,000. Tidemark LLC raised its holdings in VanEck Pharmaceutical ETF by 123.6% in the 4th quarter. Tidemark LLC now owns 1,183 shares of the company’s stock valued at $102,000 after acquiring an additional 654 shares during the last quarter. OLD Mission Capital LLC purchased a new position in shares of VanEck Pharmaceutical ETF during the 4th quarter worth $224,000. Finally, Grimes & Company Inc. acquired a new stake in shares of VanEck Pharmaceutical ETF during the fourth quarter worth $310,000.

VanEck Pharmaceutical ETF Trading Up 2.2 %

VanEck Pharmaceutical ETF stock opened at $89.06 on Friday. The stock has a fifty day moving average price of $88.63 and a 200 day moving average price of $88.86. VanEck Pharmaceutical ETF has a 52 week low of $77.67 and a 52 week high of $99.51. The firm has a market capitalization of $640.34 million, a P/E ratio of 24.60 and a beta of 0.72.

VanEck Pharmaceutical ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.5245 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.31.

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.