Short Interest in The Korea Fund, Inc. (NYSE:KF) Grows By 57.4%

The Korea Fund, Inc. (NYSE:KF) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 4,002 shares, a growth of 57.4% from the December 15th total of 2,543 shares. Based on an average daily volume of 15,657 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the shares of the stock are sold short. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 15,657 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of The Korea Fund

A number of hedge funds have recently made changes to their positions in the company. City of London Investment Management Co. Ltd. increased its holdings in The Korea Fund by 10.1% in the third quarter. City of London Investment Management Co. Ltd. now owns 1,456,201 shares of the company’s stock valued at $44,538,000 after buying an additional 134,103 shares during the last quarter. Matisse Capital raised its holdings in shares of The Korea Fund by 278.9% during the second quarter. Matisse Capital now owns 82,265 shares of the company’s stock valued at $2,215,000 after buying an additional 60,555 shares during the last quarter. Mraz Amerine & Associates Inc. grew its stake in shares of The Korea Fund by 4.6% in the second quarter. Mraz Amerine & Associates Inc. now owns 68,188 shares of the company’s stock worth $1,836,000 after purchasing an additional 2,980 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in The Korea Fund by 155.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 25,485 shares of the company’s stock valued at $779,000 after buying an additional 15,495 shares during the period. Finally, Strs Ohio acquired a new stake in The Korea Fund in the first quarter worth approximately $395,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.

The Korea Fund Stock Up 0.5%

NYSE KF traded up $0.20 during mid-day trading on Friday, reaching $41.56. 5,808 shares of the stock were exchanged, compared to its average volume of 16,477. The Korea Fund has a 1-year low of $18.15 and a 1-year high of $41.96. The business’s fifty day simple moving average is $36.33 and its 200 day simple moving average is $32.09.

The Korea Fund Announces Dividend

The firm also recently announced an annual dividend, which was paid on Monday, January 12th. Investors of record on Tuesday, December 23rd were given a dividend of $0.9442 per share. This represents a yield of 123.0%. The ex-dividend date of this dividend was Tuesday, December 23rd.

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.