The Korea Fund, Inc. (NYSE:KF) Short Interest Update

The Korea Fund, Inc. (NYSE:KF) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 10,374 shares, an increase of 108.6% from the February 12th total of 4,974 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 25,436 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 25,436 shares, the short-interest ratio is currently 0.4 days. Currently, 0.5% of the company’s shares are short sold.

Hedge Funds Weigh In On The Korea Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. City of London Investment Management Co. Ltd. grew its holdings in shares of The Korea Fund by 22.2% in the second quarter. City of London Investment Management Co. Ltd. now owns 1,322,098 shares of the company’s stock valued at $35,604,000 after purchasing an additional 239,908 shares in the last quarter. Saba Capital Management L.P. grew its stake in The Korea Fund by 117.9% during the 4th quarter. Saba Capital Management L.P. now owns 69,617 shares of the company’s stock worth $2,528,000 after purchasing an additional 37,668 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in The Korea Fund by 155.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 25,485 shares of the company’s stock worth $779,000 after purchasing an additional 15,495 shares during the period. Wolverine Asset Management LLC acquired a new stake in The Korea Fund in the 4th quarter valued at about $439,000. Finally, Shaker Financial Services LLC purchased a new position in shares of The Korea Fund in the 3rd quarter valued at about $242,000. 69.99% of the stock is currently owned by hedge funds and other institutional investors.

The Korea Fund Trading Down 4.9%

KF stock traded down $2.40 during mid-day trading on Thursday, hitting $46.58. 14,148 shares of the company were exchanged, compared to its average volume of 23,915. The business has a fifty day simple moving average of $46.36 and a 200-day simple moving average of $37.65. The Korea Fund has a 12-month low of $18.15 and a 12-month high of $58.59.

The Korea Fund Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, January 12th. Stockholders of record on Tuesday, December 23rd were paid a $0.9442 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a dividend yield of 123.0%.

About The Korea Fund

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.