VanEck Agribusiness ETF (NYSEARCA:MOO) Sees Large Drop in Short Interest

VanEck Agribusiness ETF (NYSEARCA:MOO) was the target of a significant decline in short interest in August. As of August 14th, there was short interest totaling 54,843 shares, a decline of 76.7% from the July 30th total of 234,982 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 184,427 shares, the days-to-cover ratio is currently 0.3 days.

VanEck Agribusiness ETF Stock Performance

Shares of VanEck Agribusiness ETF stock traded down $0.80 on Thursday, reaching $84.27. 529,480 shares of the company’s stock were exchanged, compared to its average volume of 332,065. The company has a market capitalization of $1.01 billion, a P/E ratio of 19.69 and a beta of 0.70. VanEck Agribusiness ETF has a 52 week low of $69.32 and a 52 week high of $86.56. The firm’s 50-day moving average is $81.32 and its two-hundred day moving average is $82.16.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc acquired a new stake in VanEck Agribusiness ETF in the third quarter worth $25,000. Arax Advisory Partners acquired a new position in shares of VanEck Agribusiness ETF during the fourth quarter valued at about $25,000. Nalls Sherbakoff Group LLC bought a new position in shares of VanEck Agribusiness ETF during the 4th quarter worth about $27,000. EFG International AG bought a new position in shares of VanEck Agribusiness ETF during the 4th quarter worth about $30,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of VanEck Agribusiness ETF in the 2nd quarter valued at 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.