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

Shares of VanEck Agribusiness ETF (NYSEARCA:MOO) hit a new 52-week high during trading 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 Price Performance

The company has a fifty day moving average price of $81.81 and a two-hundred day moving average price of $82.19. The company has a market capitalization of $1.04 billion, a P/E ratio of 19.69 and a beta of 0.70.

Institutional Investors Weigh In On VanEck Agribusiness ETF

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in shares of VanEck Agribusiness ETF by 2.8% during the first quarter. Bank of America Corp DE now owns 221,975 shares of the company’s stock valued at $18,757,000 after acquiring an additional 6,004 shares during the last quarter. UBS Group AG lifted its holdings in shares of VanEck Agribusiness ETF by 9.0% during the third quarter. UBS Group AG now owns 175,120 shares of the company’s stock worth $12,863,000 after purchasing an additional 14,490 shares during the period. Retirement Financial Solutions LLC bought a new stake in shares of VanEck Agribusiness ETF in the first quarter worth $11,613,000. Cetera Investment Advisers grew its stake in shares of 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 during the last quarter. Finally, Royal Bank of Canada raised its position 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 purchasing an additional 68,010 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. 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.