The Korea Fund, Inc. (NYSE:KF) Sees Significant Growth in Short Interest

The Korea Fund, Inc. (NYSE:KF) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 2,543 shares, a growth of 1,629.9% from the November 30th total of 147 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 17,190 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 17,190 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company’s shares are short sold.

The Korea Fund Trading Up 0.2%

Shares of NYSE KF traded up $0.08 during midday trading on Thursday, hitting $35.49. The company’s stock had a trading volume of 11,010 shares, compared to its average volume of 16,664. The business’s fifty day simple moving average is $35.04 and its two-hundred day simple moving average is $30.56. The Korea Fund has a 1 year low of $18.15 and a 1 year high of $37.69.

The Korea Fund Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, January 12th. Stockholders of record on Tuesday, December 23rd will be given a dividend of $0.9442 per share. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a dividend yield of 123.0%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in The Korea Fund by 37.5% in the 4th 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 in the last quarter. NewEdge Advisors LLC grew its position in shares of The Korea Fund by 91.7% during the first quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock worth $25,000 after buying an additional 610 shares in the last quarter. Strs Ohio purchased a new stake in shares of The Korea Fund during the first quarter worth approximately $395,000. Mraz Amerine & Associates Inc. increased its stake in shares of The Korea Fund by 4.6% during the second quarter. Mraz Amerine & Associates Inc. now owns 68,188 shares of the company’s stock worth $1,836,000 after buying an additional 2,980 shares during the period. Finally, Matisse Capital raised its holdings in The Korea Fund by 278.9% in the second quarter. Matisse Capital now owns 82,265 shares of the company’s stock valued at $2,215,000 after acquiring an additional 60,555 shares in the last quarter. 69.99% of the stock is 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.