Envestnet Asset Management Inc. Reduces Stock Holdings in VanEck Pharmaceutical ETF (NASDAQ:PPH)

Envestnet Asset Management Inc. lowered its holdings in shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) by 13.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,997 shares of the company’s stock after selling 781 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of VanEck Pharmaceutical ETF worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of VanEck Pharmaceutical ETF in the fourth quarter worth about $43,000. Farther Finance Advisors LLC increased its holdings in VanEck Pharmaceutical ETF by 391.0% in the 1st quarter. Farther Finance Advisors LLC now owns 545 shares of the company’s stock worth $48,000 after acquiring an additional 434 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in VanEck Pharmaceutical ETF by 254.7% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,802 shares of the company’s stock worth $164,000 after acquiring an additional 1,294 shares in the last quarter. Inscription Capital LLC bought a new stake in VanEck Pharmaceutical ETF during the 1st quarter worth approximately $218,000. Finally, Sapient Capital LLC purchased a new position in VanEck Pharmaceutical ETF during the first quarter valued at approximately $236,000.

VanEck Pharmaceutical ETF Price Performance

PPH opened at $83.84 on Thursday. The company has a 50 day simple moving average of $87.89 and a two-hundred day simple moving average of $88.14. The firm has a market cap of $456.09 million, a P/E ratio of 20.21 and a beta of 0.72. VanEck Pharmaceutical ETF has a 1-year low of $77.67 and a 1-year high of $99.51.

VanEck Pharmaceutical ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Tuesday, July 1st were paid a $0.6069 dividend. This represents a $2.43 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, July 1st. This is a boost from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.52.

VanEck Pharmaceutical ETF 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.