Short Interest in VanEck Africa Index ETF (NYSEARCA:AFK) Declines By 86.7%

VanEck Africa Index ETF (NYSEARCA:AFK) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 11,510 shares, a drop of 86.7% from the February 26th total of 86,715 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 164,076 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 164,076 shares, the short-interest ratio is presently 0.1 days. Approximately 0.2% of the company’s stock are short sold.

VanEck Africa Index ETF Trading Up 0.7%

VanEck Africa Index ETF stock traded up $0.18 during midday trading on Tuesday, hitting $25.16. The stock had a trading volume of 31,317 shares, compared to its average volume of 107,991. The business has a fifty day moving average price of $28.13 and a 200 day moving average price of $25.98. VanEck Africa Index ETF has a 12 month low of $15.07 and a 12 month high of $30.85. The stock has a market cap of $129.57 million, a P/E ratio of 11.91 and a beta of 0.73.

Institutional Investors Weigh In On VanEck Africa Index ETF

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

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.