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

VanEck Africa Index ETF (NYSEARCA:AFK) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 43,366 shares, a decline of 37.9% from the June 30th total of 69,824 shares. Based on an average daily volume of 26,583 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.1% of the company’s stock are short sold.

Institutional Investors Weigh In On VanEck Africa Index ETF

Hedge funds have recently bought and sold shares of the business. IFP Advisors Inc acquired a new stake in VanEck Africa Index ETF during the 3rd quarter worth about $34,000. Raymond James Financial Inc. acquired a new position in shares of VanEck Africa Index ETF in the 2nd quarter valued at about $110,000. Wealthfront Advisers LLC lifted its position in shares of VanEck Africa Index ETF by 11.6% in the fourth quarter. Wealthfront Advisers LLC now owns 10,404 shares of the company’s stock worth $278,000 after purchasing an additional 1,083 shares in the last quarter. OLD Mission Capital LLC acquired a new stake in shares of VanEck Africa Index ETF during the fourth quarter worth approximately $295,000. Finally, WCG Wealth Advisors LLC acquired a new stake in shares of VanEck Africa Index ETF during the third quarter worth approximately $281,000.

VanEck Africa Index ETF Stock Up 0.2%

Shares of AFK traded up $0.04 during mid-day trading on Friday, reaching $26.13. The company’s stock had a trading volume of 177,579 shares, compared to its average volume of 83,296. The business has a fifty day moving average of $26.31 and a 200 day moving average of $27.21. The company has a market cap of $96.68 million, a price-to-earnings ratio of 11.91 and a beta of 0.73. VanEck Africa Index ETF has a 1 year low of $20.75 and a 1 year high of $30.85.

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.