The Korea Fund, Inc. (NYSE:KF) Stock Short Interest Rises 76.1%

The Korea Fund, Inc. (NYSE:KF) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 2,843 shares, a growth of 76.1% from the August 31st total of 1,614 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 26,632 shares, the days-to-cover ratio is currently 0.1 days.

The Korea Fund Trading Down 1.3%

KF stock traded down $0.84 during mid-day trading on Wednesday, hitting $65.73. 6,578 shares of the company were exchanged, compared to its average volume of 26,017. The Korea Fund has a 1-year low of $30.65 and a 1-year high of $81.94. The business has a 50 day simple moving average of $63.14 and a 200-day simple moving average of $62.58.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KF. Integrated Wealth Concepts LLC acquired a new position in The Korea Fund in the 2nd quarter valued at $30,000. NewEdge Advisors LLC boosted its stake in shares of The Korea Fund by 122.1% in the 1st quarter. NewEdge Advisors LLC now owns 1,355 shares of the company’s stock valued at $61,000 after purchasing an additional 745 shares in the last quarter. Hudson Portfolio Management LLC acquired a new stake in The Korea Fund in the second quarter valued at approximately $209,000. Corient Private Wealth LP acquired a new stake in shares of The Korea Fund during the 2nd quarter valued at $360,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of The Korea Fund by 1.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock valued at $4,437,000 after purchasing an additional 1,433 shares in the last quarter. 69.99% of the stock is owned by institutional investors.

The Korea Fund Company Profile

The Korea Fund, Inc (NYSE: KF) is a non-diversified, closed-end investment company focused on South Korea. Its investment objective is long-term capital appreciation through investments primarily in the equity securities of Korean companies.

The fund provides investors with exposure to a range of industries and businesses within South Korea, including companies listed on the country’s public equity markets. Its portfolio may include large, established businesses as well as other Korean issuers selected for their growth and investment potential.

Established in 1984, The Korea Fund was among the early country-focused investment funds designed to give international investors access to South Korea’s developing capital markets.