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

VanEck Africa Index ETF (NYSEARCA:AFK) saw a large increase in short interest during 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. Based on an average daily volume of 146,127 shares, the days-to-cover ratio is currently 1.5 days. Currently, 4.2% of the company’s shares are short sold. Currently, 4.2% of the company’s shares are short sold. Based on an average daily volume of 146,127 shares, the days-to-cover ratio is currently 1.5 days.

VanEck Africa Index ETF Stock Up 0.2%

AFK traded up $0.06 during trading on Thursday, hitting $29.20. The company’s stock had a trading volume of 29,697 shares, compared to its average volume of 99,261. The firm has a market capitalization of $150.38 million, a P/E ratio of 11.91 and a beta of 0.73. VanEck Africa Index ETF has a twelve month low of $15.07 and a twelve month high of $30.85. The stock’s fifty day moving average price is $27.29 and its 200-day moving average price is $24.72.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AFK. IFP Advisors Inc acquired a new position in shares of VanEck Africa Index ETF during the third quarter worth approximately $34,000. Raymond James Financial Inc. bought a new position in shares of VanEck Africa Index ETF in the second quarter valued at approximately $110,000. Barometer Capital Management Inc. purchased a new position in shares of VanEck Africa Index ETF during the third quarter valued at approximately $139,000. Wealthfront Advisers LLC purchased a new stake in VanEck Africa Index ETF in the 3rd quarter valued at $227,000. Finally, City Center Advisors LLC purchased a new position in VanEck Africa Index ETF during the 4th quarter worth $228,000.

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.