VanEck Agribusiness ETF (NYSEARCA:MOO) Sees Large Volume Increase – Should You Buy?

VanEck Agribusiness ETF (NYSEARCA:MOO) shares saw strong trading volume on Thursday . 343,122 shares traded hands during trading, an increase of 1% from the previous session’s volume of 341,392 shares.The stock last traded at $84.58 and had previously closed at $83.78.

VanEck Agribusiness ETF Price Performance

The business has a 50 day simple moving average of $81.36 and a 200 day simple moving average of $75.96. The stock has a market cap of $868.82 million, a PE ratio of 19.69 and a beta of 0.88.

Hedge Funds Weigh In On VanEck Agribusiness ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG grew its position in VanEck Agribusiness ETF by 9.0% in the third quarter. UBS Group AG now owns 175,120 shares of the company’s stock worth $12,863,000 after acquiring an additional 14,490 shares in the last quarter. Cetera Investment Advisers boosted its holdings in VanEck Agribusiness ETF by 1.9% in the fourth quarter. Cetera Investment Advisers now owns 89,536 shares of the company’s stock worth $6,517,000 after purchasing an additional 1,650 shares in the last quarter. Krilogy Financial LLC bought a new stake in VanEck Agribusiness ETF in the fourth quarter worth $6,724,000. M&T Bank Corp increased its position in VanEck Agribusiness ETF by 648.5% during the fourth quarter. M&T Bank Corp now owns 77,330 shares of the company’s stock worth $5,629,000 after buying an additional 66,998 shares during the last quarter. Finally, Mandatum Life Insurance Co Ltd increased its position in VanEck Agribusiness ETF by 24.2% during the fourth quarter. Mandatum Life Insurance Co Ltd now owns 60,352 shares of the company’s stock worth $4,393,000 after buying an additional 11,764 shares during 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.