VanEck Africa Index ETF (NYSEARCA:AFK) Sees Large Growth in Short Interest

VanEck Africa Index ETF (NYSEARCA:AFK) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 55,133 shares, a growth of 106.4% from the May 14th total of 26,708 shares. Based on an average trading volume of 112,388 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.2% of the shares of the company are sold short.

Institutional Trading of VanEck Africa Index ETF

Several institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC boosted its stake in VanEck Africa Index ETF by 56.2% in the 1st quarter. Apollon Wealth Management LLC now owns 20,057 shares of the company’s stock valued at $516,000 after purchasing an additional 7,215 shares during the period. OLD Mission Capital LLC bought a new stake in VanEck Africa Index ETF in the 4th quarter valued at $295,000. Orion Porfolio Solutions LLC boosted its stake in VanEck Africa Index ETF by 2.4% in the 4th 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 during the period. LPL Financial LLC boosted its stake in VanEck Africa Index ETF by 52.1% in the 4th 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 period. Finally, Texas Yale Capital Corp. bought a new stake in VanEck Africa Index ETF in the 4th quarter valued at $1,002,000.

VanEck Africa Index ETF Stock Up 0.7%

Shares of NYSEARCA AFK traded up $0.18 during midday trading on Friday, hitting $26.87. 11,772 shares of the company’s stock were exchanged, compared to its average volume of 87,231. VanEck Africa Index ETF has a 12 month low of $19.00 and a 12 month high of $30.85. The company’s 50 day moving average price is $27.30 and its 200 day moving average price is $27.18. The firm has a market capitalization of $120.92 million, a PE ratio of 11.91 and a beta of 0.71.

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.