VanEck Africa Index ETF (NYSEARCA:AFK) Sees Significant Increase in Short Interest

VanEck Africa Index ETF (NYSEARCA:AFK) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 126,252 shares, a growth of 186.5% from the August 31st total of 44,069 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 72,875 shares, the days-to-cover ratio is currently 1.7 days.

Hedge Funds Weigh In On VanEck Africa Index ETF

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in VanEck Africa Index ETF in the second quarter valued at about $28,000. 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. Citadel Advisors LLC acquired a new stake in shares of VanEck Africa Index ETF in the 2nd quarter valued at approximately $305,000. Apollon Wealth Management LLC grew its holdings in shares of VanEck Africa Index ETF by 56.2% during 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 last quarter. Finally, Texas Yale Capital Corp. bought a new stake in shares of VanEck Africa Index ETF during the 4th quarter valued at approximately $1,002,000.

VanEck Africa Index ETF Stock Performance

NYSEARCA:AFK traded up $0.13 during mid-day trading on Friday, hitting $28.66. 88,114 shares of the stock were exchanged, compared to its average volume of 76,990. The stock has a market capitalization of $103.18 million, a price-to-earnings ratio of 11.91 and a beta of 0.74. The firm’s 50-day simple moving average is $28.16 and its 200 day simple moving average is $27.21. VanEck Africa Index ETF has a fifty-two week low of $23.00 and a fifty-two week high of $30.85.

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.