Short Interest in VanEck Pharmaceutical ETF (NASDAQ:PPH) Grows By 18.0%

VanEck Pharmaceutical ETF (NASDAQ:PPH) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,970,000 shares, a growth of 18.0% from the August 15th total of 1,670,000 shares. Based on an average trading volume of 141,200 shares, the days-to-cover ratio is presently 14.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans acquired a new position in shares of VanEck Pharmaceutical ETF during the second quarter valued at about $16,088,000. Northwestern Mutual Wealth Management Co. boosted its stake in VanEck Pharmaceutical ETF by 1.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 160,039 shares of the company’s stock valued at $14,641,000 after purchasing an additional 2,694 shares during the last quarter. Financial Partners Group Inc bought a new stake in VanEck Pharmaceutical ETF during the 2nd quarter worth approximately $8,701,000. J.Safra Asset Management Corp raised its stake in shares of VanEck Pharmaceutical ETF by 5.9% in the second quarter. J.Safra Asset Management Corp now owns 73,609 shares of the company’s stock worth $6,734,000 after purchasing an additional 4,084 shares during the last quarter. Finally, Bricktown Capital LLC bought a new position in shares of VanEck Pharmaceutical ETF in the second quarter valued at approximately $5,904,000.

VanEck Pharmaceutical ETF Trading Down 0.7 %

PPH traded down $0.71 on Tuesday, reaching $97.59. The stock had a trading volume of 52,985 shares, compared to its average volume of 138,537. The firm has a 50-day moving average of $95.08 and a 200-day moving average of $91.50. VanEck Pharmaceutical ETF has a fifty-two week low of $74.05 and a fifty-two week high of $99.51. The company has a market capitalization of $657.76 million, a price-to-earnings ratio of 21.04 and a beta of 0.72.

VanEck Pharmaceutical ETF Cuts Dividend

The firm 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.

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.