VanEck Africa Index ETF (NYSEARCA:AFK) Short Interest Up 40.6% in January

VanEck Africa Index ETF (NYSEARCA:AFK) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 77,560 shares, an increase of 40.6% from the December 31st total of 55,163 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average trading volume of 85,411 shares, the days-to-cover ratio is currently 0.9 days. Based on an average trading volume of 85,411 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.7% of the company’s shares are sold short.

Institutional Investors Weigh In On VanEck Africa Index ETF

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in VanEck Africa Index ETF in the 2nd quarter worth $110,000. Orion Porfolio Solutions LLC purchased a new stake in shares of VanEck Africa Index ETF during the second quarter worth about $264,000. Synergy Asset Management LLC purchased a new stake in shares of VanEck Africa Index ETF during the third quarter worth about $2,536,000. Wealthfront Advisers LLC bought a new stake in shares of VanEck Africa Index ETF in the third quarter worth about $227,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in VanEck Africa Index ETF during the 3rd quarter valued at about $311,000.

VanEck Africa Index ETF Stock Down 6.6%

NYSEARCA AFK opened at $27.89 on Friday. VanEck Africa Index ETF has a 12-month low of $15.07 and a 12-month high of $30.85. The company has a 50-day simple moving average of $26.68 and a two-hundred day simple moving average of $24.32. The firm has a market cap of $132.48 million, a price-to-earnings ratio of 11.91 and a beta of 0.73.

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.