VanEck Agribusiness ETF (NYSEARCA:MOO) Hits New 1-Year High – Still a Buy?

VanEck Agribusiness ETF (NYSEARCA:MOO)’s share price reached a new 52-week high on Tuesday . The company traded as high as $86.69 and last traded at $86.16, with a volume of 139804 shares trading hands. The stock had previously closed at $85.98.

VanEck Agribusiness ETF Stock Performance

The company has a 50-day moving average price of $82.26 and a 200-day moving average price of $82.23. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 19.69 and a beta of 0.70.

Hedge Funds Weigh In On VanEck Agribusiness ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOO. Retirement Financial Solutions LLC purchased a new stake in shares of VanEck Agribusiness ETF during the 1st quarter worth approximately $11,613,000. Keudell Morrison Wealth Management purchased a new position in shares of VanEck Agribusiness ETF in the 1st quarter valued at $5,835,000. Royal Bank of Canada raised its stake in VanEck Agribusiness ETF by 429.2% during the 1st quarter. Royal Bank of Canada now owns 83,855 shares of the company’s stock worth $7,086,000 after acquiring an additional 68,010 shares in the last quarter. Fiduciary Alliance LLC acquired a new stake in VanEck Agribusiness ETF during the 1st quarter worth $2,970,000. Finally, Jane Street Group LLC lifted its position in VanEck Agribusiness ETF by 745.5% in the second quarter. Jane Street Group LLC now owns 39,357 shares of the company’s stock valued at $2,897,000 after acquiring an additional 34,702 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.