VanEck Agribusiness ETF (NYSEARCA:MOO) Hits New 52-Week Low – Time to Sell?

VanEck Agribusiness ETF (NYSEARCA:MOO)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $64.15 and last traded at $64.21, with a volume of 6303 shares changing hands. The stock had previously closed at $64.92.

VanEck Agribusiness ETF Stock Performance

The firm’s fifty day moving average is $69.99 and its 200-day moving average is $71.24. The company has a market capitalization of $696.82 million, a P/E ratio of 8.36 and a beta of 0.85.

Institutional Investors Weigh In On VanEck Agribusiness ETF

Several hedge funds have recently modified their holdings of the company. 1832 Asset Management L.P. raised its position in VanEck Agribusiness ETF by 5.6% in the second quarter. 1832 Asset Management L.P. now owns 538,396 shares of the company’s stock valued at $37,752,000 after purchasing an additional 28,569 shares during the last quarter. Cerity Partners OCIO LLC acquired a new position in shares of VanEck Agribusiness ETF in the second quarter valued at approximately $22,630,000. Bank of Montreal Can raised its holdings in VanEck Agribusiness ETF by 1,013.4% in the 2nd quarter. Bank of Montreal Can now owns 59,722 shares of the company’s stock valued at $4,188,000 after buying an additional 54,358 shares during the last quarter. Barry Investment Advisors LLC raised its holdings in VanEck Agribusiness ETF by 57.7% in the 3rd quarter. Barry Investment Advisors LLC now owns 58,314 shares of the company’s stock valued at $4,403,000 after buying an additional 21,335 shares during the last quarter. Finally, Fortis Advisors LLC acquired a new stake in VanEck Agribusiness ETF during the 3rd quarter worth approximately $3,336,000.

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.