The Korea Fund, Inc. (NYSE:KF) Short Interest Update

The Korea Fund, Inc. (NYSE:KF) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 7,937 shares, an increase of 122.9% from the June 15th total of 3,560 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 22,848 shares, the days-to-cover ratio is currently 0.3 days.

The Korea Fund Stock Down 4.5%

Shares of KF traded down $2.86 during midday trading on Thursday, reaching $60.05. The stock had a trading volume of 17,920 shares, compared to its average volume of 23,917. The Korea Fund has a 52 week low of $26.66 and a 52 week high of $81.94. The firm’s 50 day moving average price is $70.76 and its 200-day moving average price is $55.86.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of The Korea Fund by 37.5% in the fourth quarter. Bank of America Corp DE now owns 4,953 shares of the company’s stock valued at $91,000 after purchasing an additional 1,350 shares in the last quarter. NewEdge Advisors LLC raised its position in The Korea Fund by 91.7% during the first quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock valued at $25,000 after buying an additional 610 shares during the period. Nations Financial Group Inc. IA ADV purchased a new stake in The Korea Fund in the 4th quarter worth about $225,000. Wolverine Asset Management LLC acquired a new stake in The Korea Fund during the 4th quarter worth about $439,000. Finally, Cornerstone Wealth Management LLC boosted its position in The Korea Fund by 9.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 27,870 shares of the company’s stock worth $1,012,000 after acquiring an additional 2,385 shares during the period. 69.99% of the stock is owned by institutional investors and hedge funds.

About The Korea Fund

The Korea Fund, Inc (NYSE: KF) is a closed-end management investment company that provides U.S. investors with focused exposure to the South Korean equity market. Established in 1953, it is one of the oldest U.S. funds dedicated to investing in Korean securities. The Fund is domiciled in Delaware and trades on the New York Stock Exchange, offering investors access to a broad range of companies operating in one of Asia’s leading economies.

The Fund’s primary business activity is the acquisition of common stocks and American depositary receipts issued by companies that are either domiciled in South Korea or derive a significant portion of their revenues from Korean operations.