VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Significant Increase in Short Interest

VanEck Pharmaceutical ETF (NASDAQ:PPH) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 3,148,062 shares, an increase of 41.9% from the December 15th total of 2,218,941 shares. Based on an average daily volume of 455,352 shares, the short-interest ratio is presently 6.9 days. Currently, 27.4% of the company’s stock are sold short. Currently, 27.4% of the company’s stock are sold short. Based on an average daily volume of 455,352 shares, the short-interest ratio is presently 6.9 days.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

Several large investors have recently added to or reduced their stakes in PPH. Cherry Creek Investment Advisors Inc. bought a new stake in VanEck Pharmaceutical ETF during the 4th quarter worth approximately $1,355,000. Adamsbrown Wealth Consultants LLC lifted its holdings in shares of VanEck Pharmaceutical ETF by 4.5% in the fourth quarter. Adamsbrown Wealth Consultants LLC now owns 143,045 shares of the company’s stock valued at $14,758,000 after purchasing an additional 6,146 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of VanEck Pharmaceutical ETF by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 256,985 shares of the company’s stock valued at $23,221,000 after buying an additional 1,148 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in VanEck Pharmaceutical ETF during the third quarter worth $678,000. Finally, IFP Advisors Inc raised its position in VanEck Pharmaceutical ETF by 53.7% in the 3rd quarter. IFP Advisors Inc now owns 438 shares of the company’s stock valued at $40,000 after buying an additional 153 shares during the last quarter.

VanEck Pharmaceutical ETF Stock Up 0.3%

PPH stock traded up $0.28 during midday trading on Friday, reaching $105.32. 425,680 shares of the company’s stock traded hands, compared to its average volume of 406,816. The firm’s fifty day moving average price is $101.94 and its 200-day moving average price is $93.58. VanEck Pharmaceutical ETF has a 52 week low of $77.67 and a 52 week high of $107.28. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 20.21 and a beta of 0.54.

VanEck Pharmaceutical ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 29th were given a dividend of $0.3106 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%.

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.