The Korea Fund, Inc. (NYSE:KF) Sees Significant Decrease in Short Interest

The Korea Fund, Inc. (NYSE:KF) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totaling 3,757 shares, a decline of 52.7% from the June 30th total of 7,937 shares. Based on an average daily volume of 19,597 shares, the short-interest ratio is presently 0.2 days. Approximately 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On The Korea Fund

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

The Korea Fund Stock Performance

NYSE:KF traded down $3.08 on Tuesday, reaching $54.37. The stock had a trading volume of 30,128 shares, compared to its average volume of 23,757. The Korea Fund has a 12-month low of $26.66 and a 12-month high of $81.94. The company has a 50-day moving average of $69.62 and a 200 day moving average of $57.18.

The Korea Fund Company Profile

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.