And... does the web server have access to all the intermediate directories? You need execute access for all on them for it to work. Viz:
/usr/share/moodledata
(for example)
/usr and /usr/share need to be chmod a+x or Apache (presumably) won't see moodledata at all.
Failing that a check of Apache's error_log file should tell you more!
Installing and upgrading help
how to move moodledata directory
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