VanEck Africa Index ETF (NYSEARCA:AFK) Short Interest Down 76.4% in April

VanEck Africa Index ETF (NYSEARCA:AFK) saw a significant decrease in short interest in April. As of April 30th, there was short interest totaling 36,887 shares, a decrease of 76.4% from the April 15th total of 156,052 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average trading volume of 57,037 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On VanEck Africa Index ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Porfolio Solutions LLC grew its stake in 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 worth $402,000 after purchasing an additional 353 shares during the period. Wealthfront Advisers LLC grew its stake in VanEck Africa Index ETF by 11.6% in the fourth quarter. Wealthfront Advisers LLC now owns 10,404 shares of the company’s stock worth $278,000 after purchasing an additional 1,083 shares during the period. IFP Advisors Inc purchased a new stake in VanEck Africa Index ETF in the third quarter worth $34,000. Pekin Hardy Strauss Inc. grew its stake in VanEck Africa Index ETF by 16.0% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 14,825 shares of the company’s stock worth $397,000 after purchasing an additional 2,050 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in VanEck Africa Index ETF in the second quarter worth $110,000.

VanEck Africa Index ETF Stock Performance

Shares of VanEck Africa Index ETF stock traded down $0.40 during midday trading on Wednesday, reaching $28.17. 48,013 shares of the company’s stock traded hands, compared to its average volume of 87,778. The company has a market cap of $126.77 million, a PE ratio of 11.91 and a beta of 0.71. The stock has a 50 day moving average of $26.92 and a 200-day moving average of $26.74. VanEck Africa Index ETF has a 12 month low of $18.00 and a 12 month high of $30.85.

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.