The Korea Fund, Inc. (NYSE:KF) Short Interest Update

The Korea Fund, Inc. (NYSE:KF) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 10,374 shares, a growth of 108.6% from the February 12th total of 4,974 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 25,436 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 25,436 shares, the short-interest ratio is currently 0.4 days. Currently, 0.5% of the shares of the stock are sold short.

The Korea Fund Stock Down 4.9%

NYSE KF traded down $2.40 during mid-day trading on Thursday, hitting $46.58. The stock had a trading volume of 14,148 shares, compared to its average volume of 23,915. The firm’s 50 day moving average is $46.36 and its 200 day moving average is $37.65. The Korea Fund has a twelve month low of $18.15 and a twelve month high of $58.59.

The Korea Fund Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, December 23rd. This represents a yield of 123.0%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KF. Bank of America Corp DE increased its holdings in shares of 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 purchasing an additional 1,350 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of The Korea Fund by 91.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock worth $25,000 after acquiring an additional 610 shares during the last quarter. City of London Investment Management Co. Ltd. increased its stake in shares of The Korea Fund by 22.2% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 1,322,098 shares of the company’s stock worth $35,604,000 after acquiring an additional 239,908 shares during the last quarter. Shaker Financial Services LLC purchased a new position in shares of The Korea Fund during the 3rd quarter worth $242,000. Finally, Cornerstone Wealth Management LLC boosted its position in shares of 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 acquiring an additional 15,495 shares during the last quarter. 69.99% of the stock is currently owned by institutional investors and hedge funds.

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.