Short Interest in VanEck Africa Index ETF (NYSEARCA:AFK) Expands By 89.2%

VanEck Africa Index ETF (NYSEARCA:AFK) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 21,782 shares, a growth of 89.2% from the March 15th total of 11,510 shares. Based on an average trading volume of 78,008 shares, the short-interest ratio is presently 0.3 days. Approximately 0.5% of the company’s shares are short sold.

Institutional Investors Weigh In On VanEck Africa Index ETF

Several large investors have recently made changes to their positions in AFK. Synergy Asset Management LLC acquired a new stake in shares of VanEck Africa Index ETF in the third quarter worth $2,536,000. Texas Yale Capital Corp. acquired a new stake in shares of VanEck Africa Index ETF in the fourth quarter worth $1,002,000. Orion Porfolio Solutions LLC acquired a new stake in shares of VanEck Africa Index ETF in the second quarter worth $264,000. Apollon Wealth Management LLC acquired a new stake in shares of VanEck Africa Index ETF in the fourth quarter worth $344,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of VanEck Africa Index ETF in the third quarter worth $311,000.

VanEck Africa Index ETF Price Performance

VanEck Africa Index ETF stock opened at $27.75 on Monday. VanEck Africa Index ETF has a 52-week low of $16.49 and a 52-week high of $30.85. The firm has a fifty day moving average of $27.48 and a 200-day moving average of $26.22. The firm has a market capitalization of $123.49 million, a P/E ratio of 11.91 and a beta of 0.74.

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.