Short Interest in The Korea Fund, Inc. (NYSE:KF) Grows By 122.9%

The Korea Fund, Inc. (NYSE:KF) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 7,937 shares, a growth of 122.9% from the June 15th total of 3,560 shares. Based on an average trading volume of 22,848 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.5% of the company’s stock are sold short.

The Korea Fund Trading Down 3.6%

NYSE:KF traded down $2.36 on Wednesday, hitting $62.69. 8,269 shares of the company’s stock traded hands, compared to its average volume of 23,883. The Korea Fund has a 1 year low of $26.66 and a 1 year high of $81.94. The firm has a 50-day moving average price of $70.86 and a 200-day moving average price of $55.66.

Institutional Trading of The Korea Fund

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in The Korea Fund by 91.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock valued at $25,000 after buying an additional 610 shares during the period. Bank of America Corp DE boosted its stake in shares of The Korea Fund by 37.5% during the 4th quarter. Bank of America Corp DE now owns 4,953 shares of the company’s stock valued at $91,000 after buying an additional 1,350 shares during the period. Nations Financial Group Inc. IA ADV acquired a new stake in shares of The Korea Fund during the 4th quarter valued at $225,000. Wolverine Asset Management LLC purchased a new position in shares of The Korea Fund during the 4th quarter valued at $439,000. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of The Korea Fund by 9.4% during the 4th 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. 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.