VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Strong Trading Volume After Dividend Announcement

VanEck Pharmaceutical ETF (NASDAQ:PPHGet Free Report) saw strong trading volume on Monday after the company announced a dividend. 927,208 shares traded hands during mid-day 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 dividend of $0.3106 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, December 29th.

VanEck Pharmaceutical ETF Stock Performance

The firm’s 50 day moving average price is $98.77 and its 200-day moving average price is $92.11. The firm has a market capitalization of $1.29 billion, a PE ratio of 20.21 and a beta of 0.54.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Citigroup Inc. grew its stake in VanEck Pharmaceutical ETF by 987.8% in the 3rd 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. Clal Insurance Enterprises Holdings Ltd purchased a new position in VanEck Pharmaceutical ETF during the second quarter valued at $28,587,000. JPMorgan Chase & Co. grew its position in shares of VanEck Pharmaceutical ETF by 2,852.2% in the second quarter. JPMorgan Chase & Co. now owns 255,837 shares of the company’s stock valued at $22,503,000 after purchasing an additional 247,171 shares during the period. Revere Asset Management Inc purchased a new stake in shares of VanEck Pharmaceutical ETF during the third quarter worth about $15,628,000. Finally, Verity & Verity LLC purchased a new stake in shares of VanEck Pharmaceutical ETF during the second quarter worth about $11,551,000.

About VanEck Pharmaceutical ETF

(Get Free Report)

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.

Further Reading

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