Lazard Asset Management LLC Decreases Stock Holdings in The Korea Fund, Inc. $KF

Lazard Asset Management LLC lessened its holdings in The Korea Fund, Inc. (NYSE:KF) by 31.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 377,351 shares of the company’s stock after selling 174,833 shares during the period. Lazard Asset Management LLC owned about 0.09% of The Korea Fund worth $16,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. NewEdge Advisors LLC boosted its position in The Korea Fund by 91.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock worth $25,000 after purchasing an additional 610 shares during the period. Bank of America Corp DE increased its holdings in 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 purchasing an additional 1,350 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in The Korea Fund in the fourth quarter valued at about $225,000. Wolverine Asset Management LLC purchased a new position in The Korea Fund in the fourth quarter valued at about $439,000. Finally, Cornerstone Wealth Management LLC lifted its stake 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 and hedge funds own 69.99% of the company’s stock.

The Korea Fund Stock Down 3.9%

Shares of NYSE KF opened at $52.13 on Thursday. The Korea Fund, Inc. has a 1-year low of $26.66 and a 1-year high of $81.94. The business has a 50-day moving average of $69.17 and a 200-day moving average of $57.37.

The Korea Fund 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.