VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Large Volume Increase – Here’s What Happened

VanEck Pharmaceutical ETF (NASDAQ:PPH) saw unusually-high trading volume on Friday . Approximately 102,163 shares traded hands during mid-day trading, a decline of 32% from the previous session’s volume of 149,905 shares.The stock last traded at $86.70 and had previously closed at $88.17.

VanEck Pharmaceutical ETF Stock Performance

The business’s fifty day simple moving average is $93.68 and its 200 day simple moving average is $93.02. The stock has a market cap of $639.90 million, a price-to-earnings ratio of 21.04 and a beta of 0.72.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Several large investors have recently added to or reduced their stakes in PPH. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of VanEck Pharmaceutical ETF by 51.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 248,473 shares of the company’s stock valued at $23,565,000 after acquiring an additional 84,273 shares during the period. Thrivent Financial for Lutherans lifted its position in VanEck Pharmaceutical ETF by 33.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 234,890 shares of the company’s stock valued at $22,322,000 after purchasing an additional 59,025 shares during the last quarter. Miller Investment Management LP lifted its position in VanEck Pharmaceutical ETF by 13.4% in the 3rd quarter. Miller Investment Management LP now owns 207,535 shares of the company’s stock valued at $19,722,000 after purchasing an additional 24,446 shares during the last quarter. 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 period. Finally, Financial Partners Group Inc bought a new position in VanEck Pharmaceutical ETF in the 2nd quarter worth about $8,701,000.

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.