VanEck Africa Index ETF (NYSEARCA:AFK) Stock Price Down 2.2% – Here’s What Happened

VanEck Africa Index ETF (NYSEARCA:AFK) fell 2.2% on Thursday . The stock traded as low as $28.92 and last traded at $29.14. 20,256 shares traded hands during trading, a decline of 74% from the average daily volume of 79,237 shares. The stock had previously closed at $29.80.

VanEck Africa Index ETF Stock Down 2.2%

The business has a 50-day simple moving average of $27.52 and a two-hundred day simple moving average of $27.22. The company has a market cap of $107.82 million, a price-to-earnings ratio of 11.91 and a beta of 0.74.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AFK. Texas Yale Capital Corp. acquired a new stake in shares of VanEck Africa Index ETF in the fourth quarter worth $1,002,000. Orion Porfolio Solutions LLC bought a new stake in shares of VanEck Africa Index ETF during the 2nd quarter worth $264,000. Citadel Advisors LLC acquired a new position in VanEck Africa Index ETF in the 2nd quarter valued at $305,000. WCG Wealth Advisors LLC acquired a new position in VanEck Africa Index ETF in the 3rd quarter valued at $281,000. Finally, OLD Mission Capital LLC acquired a new position in VanEck Africa Index ETF in the 4th quarter valued at $295,000.

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.