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

The Korea Fund, Inc. (NYSE:KF) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 3,757 shares, a decrease of 52.7% from the June 30th total of 7,937 shares. Based on an average daily trading volume, of 19,597 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KF. Saba Capital Management L.P. grew its holdings 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 valued at $9,794,000 after purchasing an additional 148,522 shares during the period. Wolverine Asset Management LLC acquired a new stake in The Korea Fund in the fourth quarter worth $439,000. Allspring Global Investments Holdings LLC raised its holdings in The Korea Fund by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock worth $4,437,000 after purchasing an additional 1,433 shares during the period. Nations Financial Group Inc. IA ADV acquired a new stake in The Korea Fund in the fourth quarter worth $225,000. Finally, Cornerstone Wealth Management LLC boosted its position in shares of The Korea Fund by 9.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 27,870 shares of the company’s stock worth $1,012,000 after purchasing an additional 2,385 shares in the last quarter. Institutional investors own 69.99% of the company’s stock.

The Korea Fund Price Performance

KF traded down $2.12 during midday trading on Wednesday, reaching $52.13. 100,324 shares of the company were exchanged, compared to its average volume of 19,145. The Korea Fund has a one year low of $26.66 and a one year high of $81.94. The stock’s 50-day simple moving average is $69.17 and its 200 day simple moving average is $57.37.

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.