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

VanEck Africa Index ETF (NYSEARCA:AFK)’s stock price rose 1.1% during mid-day trading on Thursday . The company traded as high as $29.20 and last traded at $29.18. 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 Price Performance

The business’s 50-day moving average price is $26.58 and its 200-day moving average price is $27.14. The firm has a market capitalization of $107.97 million, a PE ratio of 11.91 and a beta of 0.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc purchased 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 position in shares of VanEck Africa Index ETF during the second quarter worth about $110,000. Wealthfront Advisers LLC grew its holdings in shares of 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 last quarter. OLD Mission Capital LLC acquired a new position in VanEck Africa Index ETF in the 4th quarter valued at about $295,000. Finally, WCG Wealth Advisors LLC acquired a new position in VanEck Africa Index ETF in the 3rd quarter valued at about $281,000.

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.