Avalon Trust Co Lowers Position in VanEck Pharmaceutical ETF $PPH

Avalon Trust Co trimmed its position in shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,477 shares of the company’s stock after selling 3,208 shares during the quarter. VanEck Pharmaceutical ETF makes up about 1.8% of Avalon Trust Co’s portfolio, making the stock its 13th biggest holding. Avalon Trust Co owned 5.16% of VanEck Pharmaceutical ETF worth $24,671,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp grew its position in VanEck Pharmaceutical ETF by 1.7% during the second quarter. J.Safra Asset Management Corp now owns 271,620 shares of the company’s stock valued at $23,759,000 after buying an additional 4,566 shares during the period. Belpointe Asset Management LLC purchased a new stake in shares of VanEck Pharmaceutical ETF during the 1st quarter worth about $528,000. Harbour Investments Inc. grew its position in shares of VanEck Pharmaceutical ETF by 9.7% during the 2nd quarter. Harbour Investments Inc. now owns 4,450 shares of the company’s stock valued at $391,000 after acquiring an additional 394 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of VanEck Pharmaceutical ETF during the 1st quarter valued at about $57,000. Finally, Phoenix Financial Ltd. increased its stake in shares of VanEck Pharmaceutical ETF by 13.8% in the 2nd quarter. Phoenix Financial Ltd. now owns 61,276 shares of the company’s stock valued at $5,390,000 after purchasing an additional 7,417 shares in the last quarter.

VanEck Pharmaceutical ETF Trading Up 1.2%

NASDAQ PPH opened at $99.33 on Thursday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54. The stock has a 50-day moving average of $91.45 and a 200 day moving average of $88.84. VanEck Pharmaceutical ETF has a twelve month low of $77.67 and a twelve month high of $99.43.

VanEck Pharmaceutical ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.3931 per share. This represents a $1.57 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, October 1st.

VanEck Pharmaceutical ETF Company 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.