VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Large Volume Increase Following Dividend Announcement

VanEck Pharmaceutical ETF (NASDAQ:PPH) shares saw unusually-high trading volume on Monday following a dividend announcement from the company. Approximately 927,208 shares were traded during trading, an increase of 110% from the previous session’s volume of 441,613 shares.The stock last traded at $104.1250 and had previously closed at $104.43.

The newly announced dividend which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 29th will be paid a $0.3106 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%.

VanEck Pharmaceutical ETF Stock Down 0.5%

The business’s fifty day moving average is $98.53 and its two-hundred day moving average is $92.02. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its stake in VanEck Pharmaceutical ETF by 167.9% during the 2nd quarter. CWM LLC now owns 375 shares of the company’s stock worth $33,000 after buying an additional 235 shares during the last quarter. IFP Advisors Inc increased its position in VanEck Pharmaceutical ETF by 53.7% during the 3rd quarter. IFP Advisors Inc now owns 438 shares of the company’s stock worth $40,000 after purchasing an additional 153 shares during the period. Advisory Services Network LLC purchased a new position in shares of VanEck Pharmaceutical ETF during the 3rd quarter worth approximately $41,000. PNC Financial Services Group Inc. lifted its holdings in shares of VanEck Pharmaceutical ETF by 305.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,014 shares of the company’s stock valued at $92,000 after buying an additional 764 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of VanEck Pharmaceutical ETF by 18.1% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,129 shares of the company’s stock valued at $187,000 after buying an additional 327 shares during the period.

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.