VanEck Africa Index ETF (NYSEARCA:AFK) Short Interest Update

VanEck Africa Index ETF (NYSEARCA:AFK) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 77,560 shares, a growth of 40.6% from the December 31st total of 55,163 shares. Based on an average trading volume of 85,411 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.7% of the shares of the stock are short sold. Approximately 1.7% of the shares of the stock are short sold. Based on an average trading volume of 85,411 shares, the days-to-cover ratio is presently 0.9 days.

VanEck Africa Index ETF Stock Performance

AFK opened at $28.09 on Tuesday. The firm’s 50-day simple moving average is $26.77 and its 200-day simple moving average is $24.40. VanEck Africa Index ETF has a twelve month low of $15.07 and a twelve month high of $30.85. The firm has a market cap of $137.64 million, a price-to-earnings ratio of 11.91 and a beta of 0.73.

Institutional Trading of VanEck Africa Index ETF

Hedge funds have recently modified their holdings of the company. IFP Advisors Inc bought a new stake in VanEck Africa Index ETF during the 3rd quarter worth approximately $34,000. Raymond James Financial Inc. acquired a new position in VanEck Africa Index ETF in the second quarter worth $110,000. Barometer Capital Management Inc. bought a new stake in shares of VanEck Africa Index ETF during the third quarter worth $139,000. City Center Advisors LLC acquired a new stake in shares of VanEck Africa Index ETF in the fourth quarter valued at $228,000. Finally, Wealthfront Advisers LLC bought a new position in shares of VanEck Africa Index ETF in the third quarter valued at about $227,000.

About VanEck Africa Index ETF

The VanEck Africa Index ETF (AFK) is an exchange-traded fund that is based on the MVIS GDP Africa index, a GDP and market-cap-weighted index of companies generating a majority of their revenues in Africa. AFK was launched on Jul 10, 2008 and is managed by VanEck.