VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Significant Increase in Short Interest

VanEck Pharmaceutical ETF (NASDAQ:PPH) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 3,148,062 shares, a growth of 41.9% from the December 15th total of 2,218,941 shares. Currently, 27.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 455,352 shares, the short-interest ratio is presently 6.9 days. Based on an average daily trading volume, of 455,352 shares, the short-interest ratio is presently 6.9 days. Currently, 27.4% of the shares of the stock are short sold.

VanEck Pharmaceutical ETF Stock Performance

PPH stock opened at $105.32 on Monday. The company’s fifty day moving average price is $101.94 and its 200-day moving average price is $93.66. VanEck Pharmaceutical ETF has a one year low of $77.67 and a one year high of $107.28. The company has a market capitalization of $1.20 billion, a PE ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 29th were given a $0.3106 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, December 29th.

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

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