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

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

VanEck Pharmaceutical ETF Price Performance

NASDAQ PPH opened at $99.43 on Friday. VanEck Pharmaceutical ETF has a 1 year low of $74.05 and a 1 year high of $99.44. The stock has a market capitalization of $670.16 million, a PE ratio of 21.04 and a beta of 0.72. The company’s 50 day simple moving average is $93.88 and its two-hundred day simple moving average is $90.90.

VanEck Pharmaceutical ETF Cuts Dividend

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

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

A number of institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers increased its holdings in shares of VanEck Pharmaceutical ETF by 12.3% in the 2nd quarter. Cetera Investment Advisers now owns 29,448 shares of the company’s stock worth $2,694,000 after buying an additional 3,237 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 worth $14,641,000 after acquiring an additional 2,694 shares during the period. Bank of Montreal Can grew its holdings in shares of VanEck Pharmaceutical ETF by 322.1% during the 2nd quarter. Bank of Montreal Can now owns 15,070 shares of the company’s stock worth $1,407,000 after acquiring an additional 11,500 shares during the period. Beck Capital Management LLC grew its holdings in shares of VanEck Pharmaceutical ETF by 1.5% during the 2nd quarter. Beck Capital Management LLC now owns 21,274 shares of the company’s stock worth $1,946,000 after acquiring an additional 317 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new position in shares of VanEck Pharmaceutical ETF during the 2nd quarter worth approximately $16,088,000.

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.