VanEck Africa Index ETF (NYSEARCA:AFK) Shares Shorted: Short Interest Up 186.5% in September

VanEck Africa Index ETF (NYSEARCA:AFK) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 126,252 shares, an increase of 186.5% from the August 31st total of 44,069 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily volume of 72,875 shares, the days-to-cover ratio is presently 1.7 days.

VanEck Africa Index ETF Price Performance

Shares of AFK traded down $0.62 on Monday, reaching $28.04. 5,219 shares of the stock traded hands, compared to its average volume of 76,617. The stock’s 50-day moving average price is $28.16 and its 200-day moving average price is $27.21. The firm has a market cap of $100.94 million, a price-to-earnings ratio of 11.91 and a beta of 0.74. VanEck Africa Index ETF has a 12 month low of $23.00 and a 12 month high of $30.85.

Institutional Trading of VanEck Africa Index ETF

Several institutional investors have recently bought and sold shares of AFK. Texas Yale Capital Corp. bought a new position in VanEck Africa Index ETF in the 4th quarter valued at $1,002,000. IFP Advisors Inc grew its holdings in shares of VanEck Africa Index ETF by 243.9% during the fourth quarter. IFP Advisors Inc now owns 4,777 shares of the company’s stock worth $128,000 after purchasing an additional 3,388 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of VanEck Africa Index ETF in the second quarter valued at $28,000. Citadel Advisors LLC acquired a new stake in shares of VanEck Africa Index ETF in the second quarter valued at $305,000. Finally, Apollon Wealth Management LLC raised its holdings in shares of VanEck Africa Index ETF by 56.2% in the first quarter. Apollon Wealth Management LLC now owns 20,057 shares of the company’s stock valued at $516,000 after buying an additional 7,215 shares during 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.