Miller Investment Management LP Trims Stake in VanEck Pharmaceutical ETF (NASDAQ:PPH)

Miller Investment Management LP cut its position in shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 190,014 shares of the company’s stock after selling 17,521 shares during the period. VanEck Pharmaceutical ETF makes up 1.8% of Miller Investment Management LP’s portfolio, making the stock its 13th largest holding. Miller Investment Management LP owned about 3.05% of VanEck Pharmaceutical ETF worth $16,394,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in VanEck Pharmaceutical ETF in the 4th quarter valued at $1,323,000. Bank of Montreal Can boosted its stake in shares of VanEck Pharmaceutical ETF by 4.3% during the fourth quarter. Bank of Montreal Can now owns 22,577 shares of the company’s stock valued at $1,948,000 after purchasing an additional 937 shares during the period. OLD Mission Capital LLC bought a new position in shares of VanEck Pharmaceutical ETF in the fourth quarter worth about $224,000. Level Four Advisory Services LLC lifted its holdings in shares of VanEck Pharmaceutical ETF by 3.7% in the 4th quarter. Level Four Advisory Services LLC now owns 32,017 shares of the company’s stock worth $2,762,000 after buying an additional 1,157 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of VanEck Pharmaceutical ETF by 18.6% during the 4th quarter. JPMorgan Chase & Co. now owns 11,316 shares of the company’s stock worth $976,000 after buying an additional 1,774 shares in the last quarter.

VanEck Pharmaceutical ETF Price Performance

PPH stock opened at $82.01 on Monday. VanEck Pharmaceutical ETF has a 1-year low of $77.67 and a 1-year high of $99.51. The business has a 50-day moving average price of $89.92 and a 200 day moving average price of $89.72. The company has a market capitalization of $548.65 million, a P/E ratio of 24.31 and a beta of 0.72.

VanEck Pharmaceutical ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, April 1st were issued a $0.5245 dividend. This represents a $2.10 annualized dividend and a yield of 2.56%. The ex-dividend date was Tuesday, April 1st. This is an increase from VanEck Pharmaceutical ETF’s previous quarterly dividend of $0.31.

VanEck Pharmaceutical ETF 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.