LPL Financial LLC Cuts Position in VanEck Pharmaceutical ETF (NASDAQ:PPH)

LPL Financial LLC lowered its stake in VanEck Pharmaceutical ETF (NASDAQ:PPH) by 15.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,486 shares of the company’s stock after selling 8,887 shares during the quarter. LPL Financial LLC owned 0.67% of VanEck Pharmaceutical ETF worth $4,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in VanEck Pharmaceutical ETF by 391.0% during the first quarter. Farther Finance Advisors LLC now owns 545 shares of the company’s stock valued at $48,000 after acquiring an additional 434 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of VanEck Pharmaceutical ETF during the 4th quarter worth approximately $43,000. AE Wealth Management LLC grew its position in VanEck Pharmaceutical ETF by 118.4% during the 1st quarter. AE Wealth Management LLC now owns 1,046 shares of the company’s stock worth $95,000 after purchasing an additional 567 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of VanEck Pharmaceutical ETF by 8.1% in the 4th quarter. NewEdge Advisors LLC now owns 8,266 shares of the company’s stock valued at $713,000 after acquiring an additional 621 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of VanEck Pharmaceutical ETF by 4.3% in the 4th quarter. Bank of Montreal Can now owns 22,577 shares of the company’s stock valued at $1,948,000 after purchasing an additional 937 shares during the period.

VanEck Pharmaceutical ETF Stock Performance

NASDAQ:PPH opened at $86.15 on Friday. The company has a fifty day moving average of $87.38 and a two-hundred day moving average of $88.02. The stock has a market capitalization of $468.66 million, a PE ratio of 20.21 and a beta of 0.72. VanEck Pharmaceutical ETF has a fifty-two week low of $77.67 and a fifty-two week high of $99.51.

VanEck Pharmaceutical ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Tuesday, July 1st were paid a $0.6069 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.52. This represents a $2.43 annualized dividend and a dividend yield of 2.8%.

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.