VanEck Africa Index ETF (NYSEARCA:AFK) Short Interest Up 484.4% in December

VanEck Africa Index ETF (NYSEARCA:AFK) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 17,521 shares, a growth of 484.4% from the November 30th total of 2,998 shares. Based on an average daily trading volume, of 42,897 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.5% of the company’s shares are sold short. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 42,897 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AFK. IFP Advisors Inc purchased a new stake in VanEck Africa Index ETF in the third quarter worth $34,000. Raymond James Financial Inc. bought a new position in shares of VanEck Africa Index ETF in the 2nd quarter worth about $110,000. Barometer Capital Management Inc. purchased a new position in VanEck Africa Index ETF during the 3rd quarter valued at about $139,000. Wealthfront Advisers LLC bought a new stake in VanEck Africa Index ETF during the third quarter worth about $227,000. Finally, Orion Porfolio Solutions LLC purchased a new stake in VanEck Africa Index ETF in the second quarter worth about $264,000.

VanEck Africa Index ETF Stock Up 0.6%

Shares of AFK traded up $0.15 during mid-day trading on Friday, hitting $26.92. 63,888 shares of the company’s stock traded hands, compared to its average volume of 30,433. The firm has a market capitalization of $98.26 million, a P/E ratio of 11.91 and a beta of 0.73. The business’s 50-day moving average price is $24.69 and its 200-day moving average price is $22.89. VanEck Africa Index ETF has a 1 year low of $15.07 and a 1 year high of $27.47.

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.