VanEck Africa Index ETF (NYSEARCA:AFK) Trading Up 1.1% – Time to Buy?

VanEck Africa Index ETF (NYSEARCA:AFK)’s share price shot up 1.1% on Thursday . The stock traded as high as $29.20 and last traded at $29.18. 27,370 shares were traded during trading, a decline of 66% from the average daily volume of 80,594 shares. The stock had previously closed at $28.85.

VanEck Africa Index ETF Stock Up 2.3%

The company has a market cap of $110.48 million, a price-to-earnings ratio of 11.91 and a beta of 0.73. The company’s fifty day moving average price is $26.64 and its two-hundred day moving average price is $27.16.

Institutional Investors Weigh In On VanEck Africa Index ETF

A number of large investors have recently bought and sold shares of AFK. IFP Advisors Inc acquired a new stake in VanEck Africa Index ETF during the 3rd quarter valued at $34,000. Raymond James Financial Inc. acquired a new position in VanEck Africa Index ETF in the second quarter worth $110,000. Orion Porfolio Solutions LLC bought a new stake in shares of VanEck Africa Index ETF during the second quarter worth $264,000. Wealthfront Advisers LLC grew its holdings in shares of VanEck Africa Index ETF by 11.6% during 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 last quarter. Finally, WCG Wealth Advisors LLC bought a new stake in shares of VanEck Africa Index ETF during the third quarter worth $281,000.

VanEck Africa Index ETF Company Profile

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.