VanEck Africa Index ETF (NYSEARCA:AFK) Short Interest Up 181.6% in January

VanEck Africa Index ETF (NYSEARCA:AFK) was the target of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 218,442 shares, an increase of 181.6% from the January 15th total of 77,560 shares. Based on an average daily volume of 146,127 shares, the days-to-cover ratio is presently 1.5 days. Currently, 4.2% of the shares of the stock are sold short. Currently, 4.2% of the shares of the stock are sold short. Based on an average daily volume of 146,127 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Synergy Asset Management LLC purchased a new stake in VanEck Africa Index ETF in the third quarter worth approximately $2,536,000. Texas Yale Capital Corp. purchased a new position in shares of VanEck Africa Index ETF in the fourth quarter valued at about $1,002,000. LPL Financial LLC increased its position in shares of VanEck Africa Index ETF by 52.1% in the fourth quarter. LPL Financial LLC now owns 20,747 shares of the company’s stock valued at $555,000 after acquiring an additional 7,110 shares during the period. Pekin Hardy Strauss Inc. grew its stake in shares of 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 last quarter. Finally, Orion Porfolio Solutions LLC increased its holdings in VanEck Africa Index ETF by 12.2% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 14,674 shares of the company’s stock valued at $358,000 after purchasing an additional 1,595 shares during the period.

VanEck Africa Index ETF Price Performance

Shares of AFK traded up $0.06 during midday trading on Thursday, hitting $29.20. 29,697 shares of the company traded hands, compared to its average volume of 99,261. VanEck Africa Index ETF has a one year low of $15.07 and a one year high of $30.85. The firm has a market cap of $150.38 million, a P/E ratio of 11.91 and a beta of 0.73. The stock has a 50-day moving average of $27.29 and a 200-day moving average of $24.72.

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.