Short Interest in The Korea Fund, Inc. (NYSE:KF) Decreases By 15.3%

The Korea Fund, Inc. (NYSE:KF) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 6,100 shares, a decline of 15.3% from the July 15th total of 7,200 shares. Based on an average daily trading volume, of 8,400 shares, the days-to-cover ratio is presently 0.7 days.

The Korea Fund Stock Performance

Shares of KF stock traded up $0.39 during trading on Friday, hitting $24.78. 5,252 shares of the company were exchanged, compared to its average volume of 12,681. The business’s 50-day simple moving average is $24.52 and its 200 day simple moving average is $24.14. The Korea Fund has a twelve month low of $18.30 and a twelve month high of $26.30.

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 KF. Matisse Capital acquired a new position in shares of The Korea Fund during the 4th quarter worth $2,013,000. Commonwealth Equity Services LLC bought a new position in The Korea Fund during the first quarter valued at about $2,041,000. 1607 Capital Partners LLC lifted its position in shares of The Korea Fund by 1.2% in the fourth quarter. 1607 Capital Partners LLC now owns 451,816 shares of the company’s stock worth $10,572,000 after buying an additional 5,316 shares during the last quarter. JBF Capital Inc. boosted its stake in shares of The Korea Fund by 16.4% during the 2nd quarter. JBF Capital Inc. now owns 142,000 shares of the company’s stock worth $3,426,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of The Korea Fund during the 2nd quarter valued at about $437,000. 69.99% of the stock is owned by hedge funds and other institutional investors.

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.