VanEck Africa Index ETF (NYSEARCA:AFK) Sees Significant Decrease in Short Interest

VanEck Africa Index ETF (NYSEARCA:AFK) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 10,463 shares, a drop of 95.2% from the January 29th total of 218,442 shares. Based on an average trading volume of 63,104 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the company’s stock are short sold. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 63,104 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On VanEck Africa Index ETF

A number of hedge funds have recently bought and sold shares of AFK. OLD Mission Capital LLC purchased a new stake in shares of VanEck Africa Index ETF in the fourth quarter worth $295,000. Orion Porfolio Solutions LLC increased its position in VanEck Africa Index ETF by 2.4% during the fourth quarter. Orion Porfolio Solutions LLC now owns 15,027 shares of the company’s stock valued at $402,000 after acquiring an additional 353 shares during the last quarter. LPL Financial LLC raised its stake in shares of VanEck Africa Index ETF by 52.1% in the fourth quarter. LPL Financial LLC now owns 20,747 shares of the company’s stock valued at $555,000 after acquiring an additional 7,110 shares during the period. Texas Yale Capital Corp. bought a new stake in shares of VanEck Africa Index ETF in the 4th quarter worth about $1,002,000. Finally, IFP Advisors Inc boosted its stake in shares of VanEck Africa Index ETF by 243.9% during the 4th quarter. IFP Advisors Inc now owns 4,777 shares of the company’s stock worth $128,000 after purchasing an additional 3,388 shares during the period.

VanEck Africa Index ETF Stock Performance

Shares of AFK traded down $0.55 on Thursday, hitting $29.97. 148,674 shares of the stock traded hands, compared to its average volume of 92,726. VanEck Africa Index ETF has a one year low of $15.07 and a one year high of $30.85. The company has a market capitalization of $154.35 million, a PE ratio of 11.91 and a beta of 0.73. The business has a 50 day simple moving average of $28.12 and a 200 day simple moving average of $25.30.

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.