VanEck Agribusiness ETF (NYSEARCA:MOO) Shares Cross Above 50-Day Moving Average – Here’s Why

VanEck Agribusiness ETF (NYSEARCA:MOO)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $80.15 and traded as high as $82.81. VanEck Agribusiness ETF shares last traded at $81.78, with a volume of 426,136 shares traded.

VanEck Agribusiness ETF Stock Performance

The business’s 50-day moving average is $80.33 and its 200-day moving average is $75.66. The company has a market capitalization of $853.22 million, a PE ratio of 19.69 and a beta of 0.88.

Institutional Trading of VanEck Agribusiness ETF

A number of hedge funds have recently made changes to their positions in the stock. Prospera Financial Services Inc increased its position in VanEck Agribusiness ETF by 5.2% during the 2nd quarter. Prospera Financial Services Inc now owns 4,531 shares of the company’s stock valued at $334,000 after buying an additional 226 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in VanEck Agribusiness ETF by 22.1% in the second quarter. Meridian Wealth Management LLC now owns 8,300 shares of the company’s stock worth $611,000 after acquiring an additional 1,500 shares in the last quarter. Cetera Investment Advisers boosted its holdings in VanEck Agribusiness ETF by 4.2% in the second quarter. Cetera Investment Advisers now owns 88,079 shares of the company’s stock worth $6,484,000 after acquiring an additional 3,562 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of VanEck Agribusiness ETF by 18.0% in the second quarter. JPMorgan Chase & Co. now owns 11,741 shares of the company’s stock worth $864,000 after acquiring an additional 1,795 shares during the last quarter. Finally, MAI Capital Management increased its holdings in shares of VanEck Agribusiness ETF by 2.0% during the second quarter. MAI Capital Management now owns 7,833 shares of the company’s stock valued at $577,000 after acquiring an additional 150 shares in the last quarter.

About VanEck Agribusiness ETF

Market Vectors Agribusiness ETF (the Fund) replicates as closely as possible the price and yield performance of the DAXglobal Agribusiness Index (DXAG). DXAG, calculated by Deutsche Borse AG, is a modified market capitalization-weighted index consisting of publicly traded companies engaged in the agriculture business that are traded on global exchanges. DXAG provides exposure to companies worldwide that derive at least 50% of their revenues from agriculture business. Companies eligible for inclusion in DXAG should have market capitalization exceeding $150 million; should have worldwide daily average trading volume of at least $1 million over past six months and in each of the past two months, and should have maintained monthly trading volume of 250,000 shares over past six months.