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

VanEck Agribusiness ETF (NYSEARCA:MOO)’s share price hit a new 52-week low on Wednesday . The company traded as low as $67.37 and last traded at $67.41, with a volume of 55549 shares changing hands. The stock had previously closed at $68.90.

VanEck Agribusiness ETF Stock Performance

The firm’s 50-day moving average is $71.27 and its two-hundred day moving average is $71.59. The stock has a market cap of $722.74 million, a P/E ratio of 8.36 and a beta of 0.85.

Hedge Funds Weigh In On VanEck Agribusiness ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. boosted its holdings in VanEck Agribusiness ETF by 5.6% during the second quarter. 1832 Asset Management L.P. now owns 538,396 shares of the company’s stock worth $37,752,000 after purchasing an additional 28,569 shares during the last quarter. Cerity Partners OCIO LLC bought a new stake in shares of VanEck Agribusiness ETF during the 2nd quarter worth approximately $22,630,000. Bank of Montreal Can boosted its holdings in shares of 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 increased its holdings in VanEck Agribusiness ETF by 57.7% during the third quarter. Barry Investment Advisors LLC now owns 58,314 shares of the company’s stock worth $4,403,000 after buying an additional 21,335 shares during the last quarter. Finally, Fortis Advisors LLC acquired a new position in shares of VanEck Agribusiness ETF during the 3rd quarter worth about $3,336,000.

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.