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

VanEck Africa Index ETF (NYSEARCA:AFK) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 36,887 shares, a decrease of 76.4% from the April 15th total of 156,052 shares. Based on an average daily volume of 57,037 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On VanEck Africa Index ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AFK. Orion Porfolio Solutions LLC acquired a new position in VanEck Africa Index ETF in the 2nd quarter valued at about $264,000. Raymond James Financial Inc. acquired a new position in VanEck Africa Index ETF in the 2nd quarter valued at about $110,000. IFP Advisors Inc acquired a new position in VanEck Africa Index ETF in the 3rd quarter valued at about $34,000. Apollon Wealth Management LLC grew its stake in VanEck Africa Index ETF by 56.2% in the 1st quarter. Apollon Wealth Management LLC now owns 20,057 shares of the company’s stock valued at $516,000 after buying an additional 7,215 shares during the last quarter. Finally, Texas Yale Capital Corp. acquired a new position in VanEck Africa Index ETF in the 4th quarter valued at about $1,002,000.

VanEck Africa Index ETF Price Performance

AFK traded down $0.99 during mid-day trading on Friday, hitting $26.87. The stock had a trading volume of 80,661 shares, compared to its average volume of 87,166. The stock’s fifty day simple moving average is $26.90 and its 200-day simple moving average is $26.77. VanEck Africa Index ETF has a 1-year low of $18.02 and a 1-year high of $30.85. The firm has a market capitalization of $120.92 million, a price-to-earnings ratio of 11.91 and a beta of 0.71.

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.