Short Interest in VanEck Africa Index ETF (NYSEARCA:AFK) Increases By 616.4%

VanEck Africa Index ETF (NYSEARCA:AFK) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 156,052 shares, an increase of 616.4% from the March 31st total of 21,782 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 35,112 shares, the short-interest ratio is currently 4.4 days.

VanEck Africa Index ETF Stock Performance

Shares of NYSEARCA:AFK traded up $0.12 during trading on Friday, reaching $27.54. The company had a trading volume of 76,474 shares, compared to its average volume of 88,523. The firm’s fifty day moving average is $27.45 and its 200 day moving average is $26.44. The firm has a market capitalization of $122.55 million, a PE ratio of 11.91 and a beta of 0.74. VanEck Africa Index ETF has a twelve month low of $17.25 and a twelve month high of $30.85.

Hedge Funds Weigh In On VanEck Africa Index ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new position in shares of VanEck Africa Index ETF during the 3rd quarter valued at $2,536,000. Texas Yale Capital Corp. acquired a new stake in shares of VanEck Africa Index ETF in the fourth quarter valued at $1,002,000. Orion Porfolio Solutions LLC acquired a new stake in shares of VanEck Africa Index ETF in the second quarter valued at $264,000. Apollon Wealth Management LLC acquired a new stake in shares of VanEck Africa Index ETF in the fourth quarter valued at $344,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of VanEck Africa Index ETF in the third quarter valued at $311,000.

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.