Short Interest in VanEck Africa Index ETF (NYSEARCA:AFK) Rises By 181.6%

VanEck Africa Index ETF (NYSEARCA:AFK) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 218,442 shares, an increase of 181.6% from the January 15th total of 77,560 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average daily volume of 146,127 shares, the short-interest ratio is currently 1.5 days. Based on an average daily volume of 146,127 shares, the short-interest ratio is currently 1.5 days. Approximately 4.2% of the shares of the company are short sold.

VanEck Africa Index ETF Price Performance

Shares of VanEck Africa Index ETF stock traded up $0.70 during midday trading on Friday, hitting $29.27. 29,294 shares of the company were exchanged, compared to its average volume of 98,161. VanEck Africa Index ETF has a 52 week low of $15.07 and a 52 week high of $30.85. The firm has a 50 day simple moving average of $27.43 and a 200-day simple moving average of $24.81. The firm has a market cap of $150.74 million, a P/E ratio of 11.91 and a beta of 0.73.

Institutional Investors Weigh In On VanEck Africa Index ETF

Several institutional investors have recently modified their holdings of the business. Synergy Asset Management LLC bought a new stake in VanEck Africa Index ETF in the 3rd quarter valued at $2,536,000. Texas Yale Capital Corp. acquired a new stake in VanEck Africa Index ETF during the 4th quarter worth approximately $1,002,000. LPL Financial LLC boosted its stake in VanEck Africa Index ETF by 52.1% in the 4th quarter. LPL Financial LLC now owns 20,747 shares of the company’s stock valued at $555,000 after purchasing an additional 7,110 shares during the period. Orion Porfolio Solutions LLC increased its position in VanEck Africa Index ETF by 2.4% during the 4th quarter. Orion Porfolio Solutions LLC now owns 15,027 shares of the company’s stock worth $402,000 after buying an additional 353 shares during the period. Finally, Pekin Hardy Strauss Inc. raised its stake in VanEck Africa Index ETF by 16.0% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 14,825 shares of the company’s stock worth $397,000 after purchasing an additional 2,050 shares in the last quarter.

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.