The Korea Fund, Inc. (NYSE:KF) Short Interest Down 70.3% in August

The Korea Fund, Inc. (NYSE:KF) was the target of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 1,291 shares, a decrease of 70.3% from the July 30th total of 4,344 shares. Based on an average trading volume of 26,668 shares, the short-interest ratio is presently 0.0 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On The Korea Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Saba Capital Management L.P. grew its position in The Korea Fund by 213.3% during the first quarter. Saba Capital Management L.P. now owns 218,139 shares of the company’s stock worth $9,794,000 after buying an additional 148,522 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in The Korea Fund by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock valued at $4,437,000 after acquiring an additional 1,433 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of 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 acquiring an additional 2,385 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of The Korea Fund during the 4th quarter valued at $439,000. Finally, Bank of America Corp DE grew its holdings in shares of The Korea Fund by 37.5% during the 4th quarter. Bank of America Corp DE now owns 4,953 shares of the company’s stock worth $91,000 after purchasing an additional 1,350 shares in the last quarter. 69.99% of the stock is currently owned by institutional investors and hedge funds.

The Korea Fund Price Performance

The Korea Fund stock traded down $0.64 during midday trading on Friday, hitting $64.23. The company’s stock had a trading volume of 24,059 shares, compared to its average volume of 29,693. The Korea Fund has a 1-year low of $26.79 and a 1-year high of $81.94. The company has a 50-day moving average price of $64.22 and a two-hundred day moving average price of $60.02.

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.