VanEck Agribusiness ETF (NYSEARCA:MOO) Sees Large Volume Increase – Still a Buy?

Shares of VanEck Agribusiness ETF (NYSEARCA:MOO) saw strong trading volume on Wednesday . 117,813 shares were traded during trading, an increase of 72% from the previous session’s volume of 68,579 shares.The stock last traded at $68.15 and had previously closed at $68.34.

VanEck Agribusiness ETF Stock Performance

The firm’s 50-day simple moving average is $67.20 and its 200 day simple moving average is $70.40. The company has a market cap of $737.86 million, a P/E ratio of 8.36 and a beta of 0.85.

Hedge Funds Weigh In On VanEck Agribusiness ETF

A number of large investors have recently added to or reduced their stakes in the company. Coastline Trust Co acquired a new position in shares of VanEck Agribusiness ETF during the 3rd quarter worth about $45,000. Truvestments Capital LLC acquired a new position in shares of VanEck Agribusiness ETF during the 3rd quarter worth about $53,000. Bessemer Group Inc. acquired a new position in shares of VanEck Agribusiness ETF during the 4th quarter worth about $71,000. SBI Securities Co. Ltd. acquired a new stake in VanEck Agribusiness ETF in the 4th quarter valued at about $111,000. Finally, Colonial Trust Co SC lifted its stake in VanEck Agribusiness ETF by 35.7% in the 4th quarter. Colonial Trust Co SC now owns 1,900 shares of the company’s stock valued at $123,000 after purchasing an additional 500 shares during the last quarter.

VanEck Agribusiness ETF Company Profile

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.