The Korea Fund, Inc. (NYSE:KF) Shares Shorted: Short Interest Up 76.1% in September

The Korea Fund, Inc. (NYSE:KF) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 2,843 shares, an increase of 76.1% from the August 31st total of 1,614 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 26,632 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KF. Integrated Wealth Concepts LLC acquired a new stake in The Korea Fund during the 2nd quarter valued at $30,000. NewEdge Advisors LLC raised its position in shares of The Korea Fund by 122.1% in the first quarter. NewEdge Advisors LLC now owns 1,355 shares of the company’s stock valued at $61,000 after purchasing an additional 745 shares during the period. Hudson Portfolio Management LLC acquired a new stake in shares of The Korea Fund during the 2nd quarter worth about $209,000. Corient Private Wealth LP acquired a new stake in shares of The Korea Fund during the 2nd quarter worth about $360,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of The Korea Fund by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock worth $4,437,000 after buying an additional 1,433 shares during the last quarter. 69.99% of the stock is currently owned by institutional investors.

The Korea Fund Trading Up 1.6%

NYSE:KF traded up $1.06 during mid-day trading on Tuesday, hitting $66.88. The stock had a trading volume of 23,932 shares, compared to its average volume of 25,237. The Korea Fund has a twelve month low of $30.59 and a twelve month high of $81.94. The company’s 50 day simple moving average is $63.01 and its 200 day simple moving average is $62.31.

About The Korea Fund

The Korea Fund, Inc (NYSE: KF) is a non-diversified, closed-end investment company focused on South Korea. Its investment objective is long-term capital appreciation through investments primarily in the equity securities of Korean companies.

The fund provides investors with exposure to a range of industries and businesses within South Korea, including companies listed on the country’s public equity markets. Its portfolio may include large, established businesses as well as other Korean issuers selected for their growth and investment potential.

Established in 1984, The Korea Fund was among the early country-focused investment funds designed to give international investors access to South Korea’s developing capital markets.