VanEck Africa Index ETF (NYSEARCA:AFK) Short Interest Update

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

VanEck Africa Index ETF Price Performance

AFK stock traded up $0.13 during trading on Thursday, reaching $25.90. The company had a trading volume of 25,718 shares, compared to its average volume of 82,822. VanEck Africa Index ETF has a 52 week low of $20.22 and a 52 week high of $30.85. The company has a market cap of $99.72 million, a P/E ratio of 11.91 and a beta of 0.73. The business has a 50 day moving average of $27.02 and a 200 day moving average of $27.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AFK. IFP Advisors Inc bought a new position in shares of VanEck Africa Index ETF in the 3rd quarter worth approximately $34,000. Raymond James Financial Inc. bought a new stake in shares of VanEck Africa Index ETF during the second quarter valued at approximately $110,000. Barometer Capital Management Inc. purchased a new stake in VanEck Africa Index ETF in the third quarter worth $139,000. City Center Advisors LLC purchased a new stake in VanEck Africa Index ETF in the fourth quarter worth $228,000. Finally, Wealthfront Advisers LLC raised its holdings in VanEck Africa Index ETF by 11.6% in the fourth quarter. Wealthfront Advisers LLC now owns 10,404 shares of the company’s stock worth $278,000 after purchasing an additional 1,083 shares in the last quarter.

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.