VanEck Africa Index ETF (NYSEARCA:AFK) Stock Price Down 2.2% – Should You Sell?

Shares of VanEck Africa Index ETF (NYSEARCA:AFK) dropped 2.2% during trading on Thursday . The company traded as low as $28.92 and last traded at $29.14. Approximately 20,256 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 79,237 shares. The stock had previously closed at $29.80.

VanEck Africa Index ETF Stock Down 0.5%

The firm has a 50-day moving average of $27.58 and a 200 day moving average of $27.24. The stock has a market capitalization of $107.26 million, a P/E ratio of 11.91 and a beta of 0.74.

Institutional Trading of VanEck Africa Index ETF

Large investors have recently bought and sold shares of the business. Orion Porfolio Solutions LLC raised its stake in VanEck Africa Index ETF by 2.4% during the fourth quarter. Orion Porfolio Solutions LLC now owns 15,027 shares of the company’s stock worth $402,000 after acquiring an additional 353 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of VanEck Africa Index ETF by 5.9% in the 2nd quarter. IFP Advisors Inc now owns 7,781 shares of the company’s stock valued at $200,000 after purchasing an additional 436 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of VanEck Africa Index ETF during the 2nd quarter valued at approximately $28,000. Raymond James Financial Inc. acquired a new position in VanEck Africa Index ETF during the 2nd quarter worth approximately $110,000. Finally, LPL Financial LLC increased its position in VanEck Africa Index ETF by 52.1% during 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.

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.