Short Interest in The Korea Fund, Inc. (NYSE:KF) Increases By 46.9%

The Korea Fund, Inc. (NYSE:KF) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 7,200 shares, a growth of 46.9% from the June 30th total of 4,900 shares. Based on an average daily volume of 8,100 shares, the days-to-cover ratio is presently 0.9 days.

The Korea Fund Trading Down 0.5 %

Shares of The Korea Fund stock traded down $0.13 on Monday, hitting $24.47. The company had a trading volume of 4,021 shares, compared to its average volume of 13,004. The business has a 50-day simple moving average of $24.40 and a 200-day simple moving average of $23.89. The Korea Fund has a 52 week low of $18.30 and a 52 week high of $26.30.

Hedge Funds Weigh In On The Korea Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC acquired a new position in The Korea Fund in the 1st quarter worth approximately $2,041,000. 1607 Capital Partners LLC boosted its stake in The Korea Fund by 1.2% in the 4th quarter. 1607 Capital Partners LLC now owns 451,816 shares of the company’s stock worth $10,572,000 after purchasing an additional 5,316 shares during the period. Finally, Matisse Capital acquired a new position in The Korea Fund in the 4th quarter worth approximately $2,013,000. Institutional investors and hedge funds own 69.99% of the company’s stock.

About The Korea Fund

The Korea Fund, Inc is a closed-ended equity mutual fund launched and managed by Allianz Global Investors U.S. LLC. The fund invests in the public equity markets of Korea. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in growth stocks of companies.