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

The Korea Fund, Inc. (NYSE:KF) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 5,745 shares, a growth of 35,806.3% from the March 15th total of 16 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average trading volume of 23,737 shares, the short-interest ratio is currently 0.2 days.

The Korea Fund Stock Performance

Shares of KF stock opened at $50.17 on Friday. The company has a 50 day moving average price of $48.60 and a 200 day moving average price of $40.38. The Korea Fund has a fifty-two week low of $19.00 and a fifty-two week high of $58.59.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. City of London Investment Management Co. Ltd. grew its holdings in shares of 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 purchasing an additional 134,103 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings 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 worth $779,000 after acquiring an additional 15,495 shares in the last quarter. Shaker Financial Services LLC acquired a new position in The Korea Fund during the 3rd quarter worth approximately $242,000. NewEdge Advisors LLC grew its holdings in The Korea Fund by 91.7% during 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 in the last quarter. Finally, Saba Capital Management L.P. grew its holdings in The Korea Fund by 117.9% during the 4th quarter. Saba Capital Management L.P. now owns 69,617 shares of the company’s stock worth $2,528,000 after acquiring an additional 37,668 shares in the last quarter. Institutional investors and hedge funds own 69.99% of the company’s stock.

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.