The Korea Fund, Inc. (NYSE:KF – Get Free Report)’s share price fell 1.9% during trading on Tuesday. The company traded as low as $53.55 and last traded at $54.7250. 23,430 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 20,166 shares. The stock had previously closed at $55.76.
The Korea Fund Stock Down 1.9%
The company has a 50 day moving average price of $64.11 and a two-hundred day moving average price of $64.03.
Institutional Investors Weigh In On The Korea Fund
Several institutional investors have recently modified their holdings of the business. Saba Capital Management L.P. increased its holdings in 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 worth $9,794,000 after buying an additional 148,522 shares in the last quarter. Corient Private Wealth LP purchased a new position in The Korea Fund in the 2nd quarter worth about $360,000. Hudson Portfolio Management LLC bought a new position in The Korea Fund during the 2nd quarter valued at about $209,000. Allspring Global Investments Holdings LLC lifted its stake in The Korea Fund by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock valued at $4,437,000 after acquiring an additional 1,433 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in The Korea Fund by 122.1% during the 1st quarter. NewEdge Advisors LLC now owns 1,355 shares of the company’s stock valued at $61,000 after acquiring an additional 745 shares during the period. 69.99% of the stock is owned by hedge funds and other institutional investors.
The Korea Fund Company Profile
The Korea Fund, Inc (NYSE: KF) is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of companies based in South Korea. Its portfolio may include shares of businesses across a range of industries and sectors within the Korean economy.
The fund provides investors with a publicly traded vehicle for gaining targeted exposure to South Korea’s equity market. Its investments are generally selected based on the investment manager’s assessment of individual companies, industries and broader economic conditions in Korea.
The Korea Fund was established in 1984 and is among the longest-running U.S.-listed country funds focused on South Korea.
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