VanEck Africa Index ETF (NYSEARCA:AFK) Sees Large Increase in Short Interest

VanEck Africa Index ETF (NYSEARCA:AFK) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 93,154 shares, an increase of 69.0% from the May 31st total of 55,133 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 65,672 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On VanEck Africa Index ETF

Large investors have recently bought and sold shares of the company. Texas Yale Capital Corp. acquired a new stake in VanEck Africa Index ETF in the fourth quarter valued at $1,002,000. Orion Porfolio Solutions LLC acquired a new stake in VanEck Africa Index ETF in the 2nd quarter valued at about $264,000. Apollon Wealth Management LLC bought a new position in VanEck Africa Index ETF during the fourth quarter worth about $344,000. WCG Wealth Advisors LLC bought a new position in VanEck Africa Index ETF during the third quarter worth about $281,000. Finally, OLD Mission Capital LLC acquired a new position in VanEck Africa Index ETF during the fourth quarter worth approximately $295,000.

VanEck Africa Index ETF Stock Performance

NYSEARCA:AFK opened at $26.11 on Friday. The company has a market cap of $100.52 million, a PE ratio of 11.91 and a beta of 0.73. VanEck Africa Index ETF has a 52-week low of $20.22 and a 52-week high of $30.85. The stock has a 50-day simple moving average of $26.95 and a 200 day simple moving average of $27.33.

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.