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

VanEck Pharmaceutical ETF (NASDAQ:PPH) shares saw unusually-high trading volume on Wednesday . Approximately 134,615 shares traded hands during mid-day trading, a decline of 4% from the previous session’s volume of 140,331 shares.The stock last traded at $90.18 and had previously closed at $92.31.

VanEck Pharmaceutical ETF Trading Down 1.0 %

The stock has a market cap of $675.30 million, a price-to-earnings ratio of 21.04 and a beta of 0.72. The firm has a fifty day simple moving average of $95.80 and a 200 day simple moving average of $92.70.

Institutional Investors Weigh In On VanEck Pharmaceutical ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Edge Financial Advisors LLC bought a new position in shares of VanEck Pharmaceutical ETF during the 3rd quarter worth about $263,000. Mirae Asset Global Investments Co. Ltd. raised its position in VanEck Pharmaceutical ETF by 51.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 248,473 shares of the company’s stock worth $23,565,000 after purchasing an additional 84,273 shares in the last quarter. Burke & Herbert Bank & Trust Co. lifted its stake in VanEck Pharmaceutical ETF by 35.7% during the third quarter. Burke & Herbert Bank & Trust Co. now owns 8,800 shares of the company’s stock worth $836,000 after purchasing an additional 2,315 shares during the period. WT Wealth Management boosted its holdings in VanEck Pharmaceutical ETF by 6.8% during the third quarter. WT Wealth Management now owns 53,660 shares of the company’s stock valued at $5,080,000 after purchasing an additional 3,424 shares in the last quarter. Finally, Stratos Wealth Advisors LLC boosted its holdings in VanEck Pharmaceutical ETF by 40.7% during the third quarter. Stratos Wealth Advisors LLC now owns 13,059 shares of the company’s stock valued at $1,241,000 after purchasing an additional 3,778 shares in the last quarter.

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.