Short Interest in VanEck Pharmaceutical ETF (NASDAQ:PPH) Decreases By 17.3%

VanEck Pharmaceutical ETF (NASDAQ:PPH) was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totalling 1,670,000 shares, a drop of 17.3% from the July 31st total of 2,020,000 shares. Based on an average daily volume of 142,100 shares, the short-interest ratio is currently 11.8 days.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

A number of large investors have recently modified their holdings of the company. Avestar Capital LLC bought a new stake in VanEck Pharmaceutical ETF during the 4th quarter valued at $4,284,000. Independent Advisor Alliance increased its stake in shares of VanEck Pharmaceutical ETF by 100.8% in the 4th quarter. Independent Advisor Alliance now owns 98,473 shares of the company’s stock worth $7,939,000 after acquiring an additional 49,423 shares in the last quarter. Assetmark Inc. increased its stake in shares of VanEck Pharmaceutical ETF by 107.5% in the 4th quarter. Assetmark Inc. now owns 5,485 shares of the company’s stock worth $446,000 after acquiring an additional 2,841 shares in the last quarter. WT Wealth Management increased its stake in shares of VanEck Pharmaceutical ETF by 11.7% in the 4th quarter. WT Wealth Management now owns 39,613 shares of the company’s stock worth $3,223,000 after acquiring an additional 4,155 shares in the last quarter. Finally, Comerica Bank grew its position in VanEck Pharmaceutical ETF by 39.4% during the 1st quarter. Comerica Bank now owns 1,337 shares of the company’s stock valued at $121,000 after purchasing an additional 378 shares during the last quarter.

VanEck Pharmaceutical ETF Trading Up 0.7 %

PPH stock opened at $99.43 on Friday. The firm has a 50 day moving average of $93.88 and a 200-day moving average of $90.90. VanEck Pharmaceutical ETF has a 12 month low of $74.05 and a 12 month high of $99.44. The firm has a market capitalization of $670.16 million, a P/E ratio of 21.04 and a beta of 0.72.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, July 1st were given a $0.3558 dividend. The ex-dividend date of this dividend was Monday, July 1st.

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.