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

VanEck Africa Index ETF (NYSEARCA:AFK) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 126,252 shares, an increase of 186.5% from the August 31st total of 44,069 shares. Based on an average daily volume of 72,875 shares, the days-to-cover ratio is presently 1.7 days. Currently, 3.5% of the shares of the stock are sold short.

VanEck Africa Index ETF Price Performance

AFK stock traded up $0.13 during mid-day trading on Friday, reaching $28.66. 88,114 shares of the company traded hands, compared to its average volume of 76,990. The company has a market capitalization of $103.18 million, a P/E ratio of 11.91 and a beta of 0.74. VanEck Africa Index ETF has a 52-week low of $23.00 and a 52-week high of $30.85. The company has a fifty day moving average price of $28.16 and a 200-day moving average price of $27.21.

Hedge Funds Weigh In On VanEck Africa Index ETF

A number of large investors have recently modified their holdings of AFK. Texas Yale Capital Corp. purchased a new position in VanEck Africa Index ETF during the fourth quarter valued at approximately $1,002,000. Apollon Wealth Management LLC increased its holdings in VanEck Africa Index ETF by 56.2% during the 1st quarter. Apollon Wealth Management LLC now owns 20,057 shares of the company’s stock worth $516,000 after acquiring an additional 7,215 shares during the period. Citadel Advisors LLC purchased a new stake in VanEck Africa Index ETF in the 2nd quarter worth approximately $305,000. IFP Advisors Inc lifted its stake in VanEck Africa Index ETF by 5.9% in the 2nd quarter. IFP Advisors Inc now owns 7,781 shares of the company’s stock worth $200,000 after purchasing an additional 436 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in VanEck Africa Index ETF in the 2nd quarter worth approximately $28,000.

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.