VanEck Africa Index ETF (NYSEARCA:AFK – Get Free Report) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 43,366 shares, a drop of 37.9% from the June 30th total of 69,824 shares. Based on an average daily trading volume, of 26,583 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.1% of the company’s stock are short sold.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in AFK. Texas Yale Capital Corp. bought a new position in VanEck Africa Index ETF during the fourth quarter worth $1,002,000. Orion Porfolio Solutions LLC acquired a new stake in shares of VanEck Africa Index ETF during the 2nd quarter worth about $264,000. Apollon Wealth Management LLC bought a new stake in shares of VanEck Africa Index ETF during the 4th quarter worth about $344,000. WCG Wealth Advisors LLC bought a new stake in shares of VanEck Africa Index ETF during the 3rd quarter worth about $281,000. Finally, OLD Mission Capital LLC acquired a new position in VanEck Africa Index ETF in the 4th quarter valued at about $295,000.
VanEck Africa Index ETF Stock Up 0.2%
Shares of NYSEARCA:AFK traded up $0.04 during midday trading on Friday, reaching $26.13. The company had a trading volume of 177,579 shares, compared to its average volume of 83,296. The business’s 50 day moving average price is $26.33 and its 200 day moving average price is $27.21. The stock has a market cap of $96.68 million, a PE ratio of 11.91 and a beta of 0.73. VanEck Africa Index ETF has a 1-year low of $20.75 and a 1-year high of $30.85.
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.
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