The Korea Fund, Inc. (NYSE:KF) Sees Large Increase in Short Interest

The Korea Fund, Inc. (NYSE:KF) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 5,908 shares, an increase of 70.7% from the January 15th total of 3,461 shares. Based on an average daily volume of 17,114 shares, the short-interest ratio is presently 0.3 days. Currently, 0.3% of the shares of the company are sold short. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 17,114 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On The Korea Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. City of London Investment Management Co. Ltd. increased its stake in shares of The Korea Fund by 22.2% in the second quarter. City of London Investment Management Co. Ltd. now owns 1,322,098 shares of the company’s stock worth $35,604,000 after purchasing an additional 239,908 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in The Korea Fund by 155.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 25,485 shares of the company’s stock worth $779,000 after buying an additional 15,495 shares during the period. Wolverine Asset Management LLC purchased a new position in The Korea Fund in the 4th quarter valued at approximately $439,000. Shaker Financial Services LLC bought a new stake in The Korea Fund during the 3rd quarter valued at $242,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in shares of The Korea Fund during the fourth quarter worth $225,000. Institutional investors own 69.99% of the company’s stock.

The Korea Fund Stock Performance

Shares of KF opened at $49.74 on Friday. The stock’s fifty day moving average price is $40.75 and its two-hundred day moving average price is $34.63. The Korea Fund has a 1 year low of $18.15 and a 1 year high of $50.00.

The Korea Fund Dividend Announcement

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

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.