The Korea Fund, Inc. (NYSE:KF) Short Interest Down 70.3% in August

The Korea Fund, Inc. (NYSE:KF) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 1,291 shares, a decrease of 70.3% from the July 30th total of 4,344 shares. Based on an average trading volume of 26,668 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.1% of the company’s stock are sold short.

The Korea Fund Price Performance

KF stock traded down $0.64 during trading on Friday, hitting $64.23. 24,059 shares of the company’s stock were exchanged, compared to its average volume of 29,693. The business has a 50-day moving average price of $64.22 and a two-hundred day moving average price of $60.02. The Korea Fund has a 52-week low of $26.79 and a 52-week high of $81.94.

Institutional Trading of The Korea Fund

Several institutional investors have recently modified their holdings of the stock. Saba Capital Management L.P. grew its position in shares of The Korea Fund by 213.3% in the 1st quarter. Saba Capital Management L.P. now owns 218,139 shares of the company’s stock valued at $9,794,000 after buying an additional 148,522 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in The Korea Fund in the fourth quarter valued at $439,000. Bank of America Corp DE boosted its stake in The Korea Fund by 37.5% in the fourth 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 in the last quarter. Cornerstone Wealth Management LLC boosted its stake in The Korea Fund by 9.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 27,870 shares of the company’s stock valued at $1,012,000 after acquiring an additional 2,385 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 worth $4,437,000 after purchasing an additional 1,433 shares during the last quarter. Hedge funds and other institutional investors own 69.99% of the company’s stock.

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.