VanEck Agribusiness ETF (NYSEARCA:MOO) Stock Passes Above 50-Day Moving Average – Should You Sell?

VanEck Agribusiness ETF (NYSEARCA:MOO) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $78.86 and traded as high as $85.67. VanEck Agribusiness ETF shares last traded at $85.00, with a volume of 189,910 shares.

VanEck Agribusiness ETF Price Performance

The company has a market capitalization of $884 million, a price-to-earnings ratio of 19.69 and a beta of 0.88. The firm has a fifty day simple moving average of $78.86 and a 200 day simple moving average of $75.18.

Institutional Investors Weigh In On VanEck Agribusiness ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flow Traders U.S. LLC acquired a new stake in shares of VanEck Agribusiness ETF in the second quarter valued at about $1,982,000. CWM LLC lifted its stake in VanEck Agribusiness ETF by 40.4% in the 2nd quarter. CWM LLC now owns 1,574 shares of the company’s stock valued at $116,000 after buying an additional 453 shares in the last quarter. Seaview Investment Managers LLC acquired a new stake in VanEck Agribusiness ETF in the 2nd quarter worth about $1,209,000. Mandatum Life Insurance Co Ltd boosted its holdings in VanEck Agribusiness ETF by 22.7% in the 3rd quarter. Mandatum Life Insurance Co Ltd now owns 48,588 shares of the company’s stock worth $3,569,000 after buying an additional 9,000 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in VanEck Agribusiness ETF by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 88,079 shares of the company’s stock worth $6,484,000 after buying an additional 3,562 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.