The Korea Fund, Inc. (NYSE:KF – Get Free Report)’s stock price traded up 2.3% during trading on Friday. The company traded as high as $67.33 and last traded at $67.1980. 27,235 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 25,671 shares. The stock had previously closed at $65.69.
The Korea Fund Trading Up 2.3%
The business has a fifty day simple moving average of $62.91 and a two-hundred day simple moving average of $62.10.
Institutional Trading of The Korea Fund
Hedge funds have recently modified their holdings of the company. Saba Capital Management L.P. grew its stake in shares of The Korea Fund by 213.3% during the first quarter. Saba Capital Management L.P. now owns 218,139 shares of the company’s stock worth $9,794,000 after acquiring an additional 148,522 shares during the last quarter. Corient Private Wealth LP acquired a new stake in The Korea Fund in the 2nd quarter worth approximately $360,000. Hudson Portfolio Management LLC purchased a new stake in The Korea Fund during the 2nd quarter worth approximately $209,000. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 1,433 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of The Korea Fund by 122.1% in the first quarter. NewEdge Advisors LLC now owns 1,355 shares of the company’s stock worth $61,000 after buying an additional 745 shares during the last quarter. 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 non-diversified, closed-end investment company focused on South Korea. Its investment objective is long-term capital appreciation through investments primarily in the equity securities of Korean companies.
The fund provides investors with exposure to a range of industries and businesses within South Korea, including companies listed on the country’s public equity markets. Its portfolio may include large, established businesses as well as other Korean issuers selected for their growth and investment potential.
Established in 1984, The Korea Fund was among the early country-focused investment funds designed to give international investors access to South Korea’s developing capital markets.
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