The Korea Fund, Inc. (NYSE:KF – Get Free Report)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $67.48 and traded as low as $57.83. The Korea Fund shares last traded at $59.21, with a volume of 31,343 shares changing hands.
The Korea Fund Trading Up 0.8%
The firm has a fifty day moving average of $67.48 and a 200-day moving average of $58.12.
Institutional Investors Weigh In On The Korea Fund
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake 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 buying an additional 1,350 shares in the last quarter. NewEdge Advisors LLC increased its holdings in The Korea Fund by 91.7% during the first quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock worth $25,000 after buying an additional 610 shares during the last quarter. Nations Financial Group Inc. IA ADV bought a new stake in The Korea Fund during the fourth quarter worth $225,000. Wolverine Asset Management LLC bought a new stake in The Korea Fund during the fourth quarter worth $439,000. Finally, Cornerstone Wealth Management LLC lifted its stake in The Korea Fund by 9.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 27,870 shares of the company’s stock valued at $1,012,000 after acquiring an additional 2,385 shares during the last quarter. Institutional investors own 69.99% of the company’s stock.
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.
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