VanEck Agribusiness ETF (NYSEARCA:MOO) Hits New 12-Month High – Still a Buy?

VanEck Agribusiness ETF (NYSEARCA:MOO) shares reached a new 52-week high on Wednesday . The stock traded as high as $82.55 and last traded at $82.58, with a volume of 103735 shares changing hands. The stock had previously closed at $81.53.

VanEck Agribusiness ETF Stock Up 1.2%

The firm has a market cap of $783.56 million, a P/E ratio of 19.69 and a beta of 0.88. The firm’s 50-day simple moving average is $75.27 and its 200 day simple moving average is $73.93.

Institutional Investors Weigh In On VanEck Agribusiness ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of MOO. Citizens Financial Group Inc. RI lifted its position in shares of VanEck Agribusiness ETF by 2.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 9,679 shares of the company’s stock worth $705,000 after acquiring an additional 233 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of VanEck Agribusiness ETF by 7.4% during the 4th quarter. Wealthfront Advisers LLC now owns 5,199 shares of the company’s stock valued at $378,000 after purchasing an additional 360 shares during the period. D.A. Davidson & CO. lifted its holdings in VanEck Agribusiness ETF by 169.5% during the 4th quarter. D.A. Davidson & CO. now owns 17,423 shares of the company’s stock worth $1,268,000 after purchasing an additional 10,957 shares in the last quarter. O ROURKE & COMPANY Inc lifted its holdings in VanEck Agribusiness ETF by 7.5% during the 4th quarter. O ROURKE & COMPANY Inc now owns 4,556 shares of the company’s stock worth $332,000 after purchasing an additional 317 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in VanEck Agribusiness ETF by 648.5% in the 4th quarter. M&T Bank Corp now owns 77,330 shares of the company’s stock worth $5,629,000 after purchasing an additional 66,998 shares during the period.

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.