AAFMAA Wealth Management & Trust LLC Lowers Position in VanEck Pharmaceutical ETF $PPH

AAFMAA Wealth Management & Trust LLC cut its holdings in VanEck Pharmaceutical ETF (NASDAQ:PPH) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,083 shares of the company’s stock after selling 7,917 shares during the quarter. VanEck Pharmaceutical ETF accounts for 1.3% of AAFMAA Wealth Management & Trust LLC’s portfolio, making the stock its 18th biggest holding. AAFMAA Wealth Management & Trust LLC owned 0.26% of VanEck Pharmaceutical ETF worth $3,310,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PPH. Jefferies Financial Group Inc. bought a new stake in VanEck Pharmaceutical ETF during the second quarter worth approximately $287,000. Osaic Holdings Inc. increased its stake in VanEck Pharmaceutical ETF by 82.4% in the 2nd quarter. Osaic Holdings Inc. now owns 22,125 shares of the company’s stock worth $1,946,000 after purchasing an additional 9,992 shares in the last quarter. Citigroup Inc. raised its holdings in shares of VanEck Pharmaceutical ETF by 987.8% during the third quarter. Citigroup Inc. now owns 718,199 shares of the company’s stock valued at $64,896,000 after acquiring an additional 652,175 shares during the period. J.Safra Asset Management Corp lifted its holdings in shares of VanEck Pharmaceutical ETF by 4.4% in the third quarter. J.Safra Asset Management Corp now owns 285,787 shares of the company’s stock valued at $25,824,000 after purchasing an additional 12,011 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in VanEck Pharmaceutical ETF by 2,852.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 255,837 shares of the company’s stock worth $22,503,000 after acquiring an additional 247,171 shares during the period.

VanEck Pharmaceutical ETF Price Performance

PPH stock opened at $100.73 on Friday. VanEck Pharmaceutical ETF has a fifty-two week low of $77.67 and a fifty-two week high of $112.58. The business has a fifty day moving average price of $107.46 and a 200 day moving average price of $99.99. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

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

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.