VanEck Africa Index ETF (NYSEARCA:AFK) Short Interest Up 616.4% in April

VanEck Africa Index ETF (NYSEARCA:AFK) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totaling 156,052 shares, an increase of 616.4% from the March 31st total of 21,782 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily volume of 35,112 shares, the days-to-cover ratio is presently 4.4 days.

Institutional Investors Weigh In On VanEck Africa Index ETF

A number of hedge funds have recently made changes to their positions in AFK. Synergy Asset Management LLC bought a new position in shares of VanEck Africa Index ETF in the third quarter worth $2,536,000. Texas Yale Capital Corp. acquired a new stake in VanEck Africa Index ETF in the fourth quarter worth about $1,002,000. IFP Advisors Inc grew its position in VanEck Africa Index ETF by 243.9% in the 4th quarter. IFP Advisors Inc now owns 4,777 shares of the company’s stock valued at $128,000 after buying an additional 3,388 shares in the last quarter. Pekin Hardy Strauss Inc. grew its position in VanEck Africa Index ETF by 16.0% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 14,825 shares of the company’s stock valued at $397,000 after buying an additional 2,050 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its stake in VanEck Africa Index ETF by 11.6% during the 4th quarter. Wealthfront Advisers LLC now owns 10,404 shares of the company’s stock valued at $278,000 after buying an additional 1,083 shares during the period.

VanEck Africa Index ETF Trading Up 0.4%

Shares of AFK stock opened at $27.54 on Friday. The firm has a 50-day moving average price of $27.41 and a 200 day moving average price of $26.46. VanEck Africa Index ETF has a twelve month low of $17.25 and a twelve month high of $30.85. The company has a market capitalization of $122.55 million, a price-to-earnings ratio of 11.91 and a beta of 0.74.

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.