Summary
AFK Chart
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A long-time portfolio manager and MoneyShow contributor, Jonathan Hoenig of Capitalistpig Hedge Fund, suggested during last week's MoneyShow livestream that viewers check out the VanEck Africa Index ETF (AFK). AFK is stair-stepping higher, and now up more than 57% year-to-date. The 50-day moving average is acting as support on pullbacks, while the 200-day is increasing its upward slope. Volume is picking up and RSI is strong. As of late last week, AFK owned 78 stocks. Materials (34.9%) and financials (31.3%) were easily the most heavily weighted by sector. By country, South African stocks made up 34.9% of the fund, with Moroccan names next at 13.6%.
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VanEck Vectors Africa Index ETF (AFK) FAQ
What is the stock price today?
On which exchange is it traded?
What is its stock symbol?
Does it pay dividends? What is the current yield?
What is its market cap?
Has VanEck Vectors Africa Index ETF ever had a stock split?
VanEck Vectors Africa Index ETF Profile
| ARCA Exchange | US Country |
Overview
The fund focuses on investing primarily in securities that are part of its benchmark index, which is composed of African companies. This broad definition encompasses both companies that are incorporated within Africa and those that are based outside the continent but derive at least half of their revenues or have significant assets there. By maintaining at least 80% of its total assets in these securities, the fund aims to provide investors with a focused yet diversified exposure to the African economy.
Products and Services
The fund offers a variety of investment opportunities, centered around its core strategy of investing in African companies as defined by its benchmark index. The products and services provided cater to investors looking to tap into the growth potential of the African market.
- Securities of African Companies:
Investments are primarily made in companies that are either incorporated in Africa or have significant economic ties to the continent through revenue or assets. This allows investors to gain exposure to the African market's growth potential.
- Local and International Listings:
The fund includes both local listings of companies that are incorporated within Africa and international listings of companies that, despite being incorporated outside of Africa, have at least 50% of their revenues/related assets in the continent. This dual approach provides a broad market exposure, including to multinational companies benefiting from African growth.
Contact Information
