VanEck Pharmaceutical ETF (NASDAQ:PPH) Short Interest Update
by Scott Moore · The Cerbat GemVanEck Pharmaceutical ETF (NASDAQ:PPH – Get Free Report) saw a large decrease in short interest in March. As of March 31st, there was short interest totaling 1,584,373 shares, a decrease of 34.6% from the March 15th total of 2,421,516 shares. Based on an average daily trading volume, of 557,863 shares, the days-to-cover ratio is presently 2.8 days. Currently, 15.8% of the company’s stock are short sold.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Axxcess Wealth Management LLC increased its stake in shares of VanEck Pharmaceutical ETF by 9.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 9,885 shares of the company’s stock worth $1,020,000 after purchasing an additional 841 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new position in shares of VanEck Pharmaceutical ETF during the 4th quarter worth $45,000. Wellington Management Group LLP acquired a new position in shares of VanEck Pharmaceutical ETF during the 4th quarter worth $42,134,000. Quadrature Capital Ltd acquired a new position in shares of VanEck Pharmaceutical ETF during the 4th quarter worth $5,040,000. Finally, EFG International AG acquired a new position in shares of VanEck Pharmaceutical ETF during the 4th quarter worth $44,000.
VanEck Pharmaceutical ETF Trading Up 0.3%
PPH stock traded up $0.31 during midday trading on Tuesday, reaching $104.04. The company had a trading volume of 152,155 shares, compared to its average volume of 414,252. VanEck Pharmaceutical ETF has a 1 year low of $81.74 and a 1 year high of $112.58. The company has a market capitalization of $1.03 billion, a P/E ratio of 20.21 and a beta of 0.51. The company has a 50 day moving average of $106.47 and a two-hundred day moving average of $101.89.
VanEck Pharmaceutical ETF Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 7th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.8441 per share. This is a positive change from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, April 1st. This represents a $3.38 annualized dividend and a dividend yield of 3.2%.
About VanEck Pharmaceutical ETF
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.