Financial Partners Group Inc Invests $8.70 Million in VanEck Pharmaceutical ETF (NASDAQ:PPH)

Financial Partners Group Inc acquired a new position in shares of VanEck Pharmaceutical ETF (NASDAQ:PPH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 95,111 shares of the company’s stock, valued at approximately $8,701,000. VanEck Pharmaceutical ETF accounts for approximately 1.4% of Financial Partners Group Inc’s holdings, making the stock its 22nd biggest holding. Financial Partners Group Inc owned about 1.41% of VanEck Pharmaceutical ETF at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. J.Safra Asset Management Corp boosted its position in shares of VanEck Pharmaceutical ETF by 5.9% during the 2nd quarter. J.Safra Asset Management Corp now owns 73,609 shares of the company’s stock valued at $6,734,000 after purchasing an additional 4,084 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of VanEck Pharmaceutical ETF during the 2nd quarter worth approximately $211,000. GPS Wealth Strategies Group LLC bought a new position in shares of VanEck Pharmaceutical ETF during the 2nd quarter worth approximately $42,000. Burke & Herbert Bank & Trust Co. acquired a new stake in shares of VanEck Pharmaceutical ETF during the 2nd quarter worth approximately $593,000. Finally, Optimum Investment Advisors bought a new stake in shares of VanEck Pharmaceutical ETF in the 2nd quarter valued at $27,000.

VanEck Pharmaceutical ETF Price Performance

Shares of PPH stock traded up $0.04 on Friday, reaching $96.23. 80,599 shares of the company were exchanged, compared to its average volume of 138,112. The company has a 50-day moving average of $92.67 and a 200-day moving average of $90.15. The company has a market cap of $648.59 million, a price-to-earnings ratio of 21.04 and a beta of 0.72. VanEck Pharmaceutical ETF has a one year low of $74.05 and a one year high of $96.53.

VanEck Pharmaceutical ETF Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, July 5th. Investors of record on Monday, July 1st were paid a dividend of $0.3558 per share. The ex-dividend date of this dividend was Monday, July 1st.

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.