The Korea Fund, Inc. (NYSE:KF) Sees Large Decrease in Short Interest

The Korea Fund, Inc. (NYSE:KF) was the recipient of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 4,974 shares, a drop of 15.8% from the January 29th total of 5,908 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 16,337 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 16,337 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On The Korea Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Saba Capital Management L.P. boosted its stake in shares of The Korea Fund by 117.9% during the fourth quarter. Saba Capital Management L.P. now owns 69,617 shares of the company’s stock worth $2,528,000 after buying an additional 37,668 shares during the period. Cornerstone Wealth Management LLC raised its stake in 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 last quarter. Wolverine Asset Management LLC acquired a new stake in The Korea Fund during the 4th quarter worth approximately $439,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of The Korea Fund in the 4th quarter valued at approximately $225,000. Finally, City of London Investment Management Co. Ltd. grew its stake in shares of The Korea Fund by 10.1% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 1,456,201 shares of the company’s stock valued at $44,538,000 after purchasing an additional 134,103 shares during the last quarter. 69.99% of the stock is owned by hedge funds and other institutional investors.

The Korea Fund Price Performance

Shares of KF stock traded up $0.87 during trading hours on Wednesday, hitting $50.33. The stock had a trading volume of 81,043 shares, compared to its average volume of 22,644. The stock’s 50 day moving average is $44.83 and its 200 day moving average is $36.81. The Korea Fund has a twelve month low of $18.15 and a twelve month high of $58.59.

The Korea Fund Announces Dividend

The firm also recently declared an annual dividend, which was paid on Monday, January 12th. Investors of record on Tuesday, December 23rd were paid a dividend of $0.9442 per share. The ex-dividend date was Tuesday, December 23rd. This represents a yield of 123.0%.

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.