VanEck Agribusiness ETF (NYSEARCA:MOO) Sees Unusually-High Trading Volume – Should You Buy?

VanEck Agribusiness ETF (NYSEARCA:MOO) saw unusually-high trading volume on Wednesday . Approximately 914,629 shares were traded during mid-day trading, an increase of 169% from the previous session’s volume of 340,258 shares.The stock last traded at $87.91 and had previously closed at $87.58.

VanEck Agribusiness ETF Stock Down 1.0%

The firm has a market capitalization of $1.04 billion, a PE ratio of 19.69 and a beta of 0.71. The stock has a 50-day simple moving average of $83.24 and a 200-day simple moving average of $82.32.

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. IFP Advisors Inc bought a new stake in shares of VanEck Agribusiness ETF in the third quarter valued at approximately $25,000. Arax Advisory Partners bought a new stake in shares of VanEck Agribusiness ETF during the 4th quarter valued at $25,000. Nalls Sherbakoff Group LLC purchased a new stake in VanEck Agribusiness ETF during the 4th quarter worth about $27,000. EFG International AG bought a new position in VanEck Agribusiness ETF in the 4th quarter worth about $30,000. Finally, Geneos Wealth Management Inc. bought a new position in VanEck Agribusiness ETF in the 2nd quarter worth about $35,000.

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.