The Korea Fund, Inc. (NYSE:KF) Short Interest Down 99.8% in March

The Korea Fund, Inc. (NYSE:KF) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 16 shares, a decrease of 99.8% from the February 26th total of 10,374 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 41,429 shares, the short-interest ratio is presently 0.0 days.

The Korea Fund Stock Performance

The Korea Fund stock traded down $2.47 during trading on Thursday, reaching $45.19. 18,897 shares of the company were exchanged, compared to its average volume of 33,271. The Korea Fund has a 52-week low of $18.15 and a 52-week high of $58.59. The stock’s 50 day simple moving average is $48.10 and its two-hundred day simple moving average is $39.11.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its stake in The Korea Fund by 91.7% during the first quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock worth $25,000 after buying an additional 610 shares during the period. Bank of America Corp DE raised its stake in shares of The Korea Fund by 37.5% in the 4th quarter. Bank of America Corp DE now owns 4,953 shares of the company’s stock valued at $91,000 after acquiring an additional 1,350 shares during the period. Nations Financial Group Inc. IA ADV purchased a new stake in shares of The Korea Fund in the 4th quarter valued at approximately $225,000. Shaker Financial Services LLC acquired a new position in shares of The Korea Fund in the 3rd quarter worth approximately $242,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of The Korea Fund in the 4th quarter worth approximately $439,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.

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.