VanEck Africa Index ETF (NYSEARCA:AFK) Sees Significant Drop in Short Interest

VanEck Africa Index ETF (NYSEARCA:AFK) was the target of a significant drop in short interest in February. As of February 13th, there was short interest totaling 10,463 shares, a drop of 95.2% from the January 29th total of 218,442 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 63,104 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 63,104 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On VanEck Africa Index ETF

A number of hedge funds have recently modified their holdings of the business. OLD Mission Capital LLC acquired a new stake in VanEck Africa Index ETF in the 4th quarter valued at about $295,000. Orion Porfolio Solutions LLC grew its position in shares of VanEck Africa Index ETF by 2.4% in the fourth quarter. Orion Porfolio Solutions LLC now owns 15,027 shares of the company’s stock valued at $402,000 after purchasing an additional 353 shares in the last quarter. LPL Financial LLC increased its holdings in shares of VanEck Africa Index ETF by 52.1% in the fourth 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 last quarter. Texas Yale Capital Corp. purchased a new position in VanEck Africa Index ETF during the fourth quarter worth approximately $1,002,000. Finally, IFP Advisors Inc lifted its position in 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 buying an additional 3,388 shares in the last quarter.

VanEck Africa Index ETF Stock Performance

Shares of AFK traded up $0.34 during trading hours on Wednesday, hitting $30.52. 54,883 shares of the stock were exchanged, compared to its average volume of 91,232. The stock’s 50-day moving average price is $28.12 and its two-hundred day moving average price is $25.30. VanEck Africa Index ETF has a 12-month low of $15.07 and a 12-month high of $30.85. The company has a market cap of $157.18 million, a price-to-earnings ratio of 11.91 and a beta of 0.73.

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.