VanEck Africa Index ETF (NYSEARCA:AFK) Stock Price Down 1.4% – Here’s What Happened

VanEck Africa Index ETF (NYSEARCA:AFK) traded down 1.4% during mid-day trading on Thursday . The stock traded as low as $25.27 and last traded at $25.49. Approximately 72,230 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 80,556 shares. The stock had previously closed at $25.86.

VanEck Africa Index ETF Trading Down 1.4%

The business has a fifty day moving average of $26.43 and a 200-day moving average of $27.28. The company has a market cap of $96.86 million, a PE ratio of 11.91 and a beta of 0.73.

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 AFK. Apollon Wealth Management LLC lifted its stake in VanEck Africa Index ETF by 56.2% in the first quarter. Apollon Wealth Management LLC now owns 20,057 shares of the company’s stock worth $516,000 after acquiring an additional 7,215 shares during the period. OLD Mission Capital LLC purchased a new position in VanEck Africa Index ETF during the 4th quarter valued at $295,000. Orion Porfolio Solutions LLC raised its holdings 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 worth $402,000 after purchasing an additional 353 shares in the last quarter. LPL Financial LLC raised its holdings 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 worth $555,000 after purchasing an additional 7,110 shares in the last quarter. Finally, Texas Yale Capital Corp. purchased a new stake in shares of VanEck Africa Index ETF in the 4th quarter worth about $1,002,000.

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.