VanEck Africa Index ETF (NYSEARCA:AFK) Trading Up 1.1% – Here’s Why

Shares of VanEck Africa Index ETF (NYSEARCA:AFK) rose 1.1% on Thursday . The company traded as high as $29.20 and last traded at $29.18. Approximately 27,370 shares were traded during trading, a decline of 66% from the average daily volume of 80,594 shares. The stock had previously closed at $28.85.

VanEck Africa Index ETF Stock Up 1.1%

The business has a fifty day simple moving average of $26.58 and a 200 day simple moving average of $27.14. The company has a market cap of $107.97 million, a price-to-earnings ratio of 11.91 and a beta of 0.73.

Hedge Funds Weigh In On VanEck Africa Index ETF

A number of large investors have recently made changes to their positions in the stock. IFP Advisors Inc acquired a new stake in shares of VanEck Africa Index ETF in the third quarter valued at about $34,000. Raymond James Financial Inc. purchased a new stake in VanEck Africa Index ETF during the second quarter worth about $110,000. Wealthfront Advisers LLC grew its position in VanEck Africa Index ETF by 11.6% during the fourth quarter. Wealthfront Advisers LLC now owns 10,404 shares of the company’s stock worth $278,000 after buying an additional 1,083 shares during the period. OLD Mission Capital LLC acquired a new position in VanEck Africa Index ETF during the fourth quarter worth about $295,000. Finally, WCG Wealth Advisors LLC purchased a new position in VanEck Africa Index ETF in the third quarter valued at about $281,000.

VanEck Africa Index ETF Company Profile

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.