VanEck Africa Index ETF (NYSEARCA:AFK) Sees Large Decline in Short Interest

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

VanEck Africa Index ETF Stock Performance

VanEck Africa Index ETF stock traded down $0.99 during trading on Friday, reaching $26.87. The company had a trading volume of 80,661 shares, compared to its average volume of 87,166. VanEck Africa Index ETF has a 12-month low of $18.02 and a 12-month high of $30.85. The stock’s 50 day moving average price is $26.90 and its two-hundred day moving average price is $26.77. The firm has a market capitalization of $120.92 million, a price-to-earnings ratio of 11.91 and a beta of 0.71.

Hedge Funds Weigh In On VanEck Africa Index ETF

A number of large investors have recently bought and sold shares of AFK. Raymond James Financial Inc. purchased a new position in VanEck Africa Index ETF during the second quarter worth approximately $110,000. Orion Porfolio Solutions LLC purchased a new position in VanEck Africa Index ETF during the second quarter worth approximately $264,000. Wealthfront Advisers LLC purchased a new position in VanEck Africa Index ETF during the third quarter worth approximately $227,000. Pekin Hardy Strauss Inc. purchased a new position in VanEck Africa Index ETF during the third quarter worth approximately $311,000. Finally, Barometer Capital Management Inc. purchased a new position in VanEck Africa Index ETF during the third quarter worth approximately $139,000.

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.