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

The Korea Fund, Inc. (NYSE:KF) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 3,757 shares, a decrease of 52.7% from the June 30th total of 7,937 shares. Based on an average daily trading volume, of 19,597 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the stock are short sold.

The Korea Fund Stock Up 9.5%

Shares of KF stock traded up $4.92 during trading on Thursday, hitting $56.80. 35,256 shares of the stock traded hands, compared to its average volume of 23,350. The Korea Fund has a 52-week low of $26.66 and a 52-week high of $81.94. The firm’s fifty day moving average price is $68.96 and its 200-day moving average price is $57.49.

Hedge Funds Weigh In On The Korea Fund

A number of hedge funds have recently modified their holdings of the business. Saba Capital Management L.P. boosted its holdings in shares of The Korea Fund by 213.3% in the first quarter. Saba Capital Management L.P. now owns 218,139 shares of the company’s stock valued at $9,794,000 after acquiring an additional 148,522 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of The Korea Fund by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock worth $4,437,000 after acquiring an additional 1,433 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in shares of 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. Wolverine Asset Management LLC purchased a new stake in shares of The Korea Fund in the fourth quarter valued at about $439,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of The Korea Fund during the fourth quarter worth about $225,000. 69.99% of the stock is currently owned by hedge funds and other institutional investors.

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.