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

VanEck Africa Index ETF (NYSEARCA:AFK) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 156,052 shares, a growth of 616.4% from the March 31st total of 21,782 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 35,112 shares, the short-interest ratio is presently 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 stock had a trading volume of 76,474 shares, compared to its average volume of 88,523. The stock has a market cap of $122.55 million, a PE ratio of 11.91 and a beta of 0.74. The firm’s 50 day moving average price is $27.45 and its two-hundred day moving average price is $26.44. VanEck Africa Index ETF has a one year low of $17.25 and a one year high of $30.85.

Hedge Funds Weigh In On VanEck Africa Index ETF

A number of large investors have recently bought and sold shares of AFK. IFP Advisors Inc bought a new position in VanEck Africa Index ETF in the third quarter worth about $34,000. Raymond James Financial Inc. bought a new position in VanEck Africa Index ETF in the second quarter worth about $110,000. Barometer Capital Management Inc. bought a new position in VanEck Africa Index ETF in the third quarter worth about $139,000. Wealthfront Advisers LLC bought a new position in VanEck Africa Index ETF in the third quarter worth about $227,000. Finally, City Center Advisors LLC bought a new position in VanEck Africa Index ETF in the fourth quarter worth about $228,000.

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.