The Korea Fund, Inc. (NYSE:KF) Shares Shorted: Short Interest Up 76.1% in September

The Korea Fund, Inc. (NYSE:KF) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 2,843 shares, a growth of 76.1% from the August 31st total of 1,614 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 26,632 shares, the days-to-cover ratio is presently 0.1 days.

The Korea Fund Price Performance

NYSE KF traded up $1.06 on Tuesday, reaching $66.88. The company had a trading volume of 23,932 shares, compared to its average volume of 25,237. The company’s fifty day moving average is $63.01 and its 200-day moving average is $62.31. The Korea Fund has a 1-year low of $30.59 and a 1-year high of $81.94.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in shares of The Korea Fund during the 2nd quarter worth approximately $30,000. NewEdge Advisors LLC grew its stake in shares of The Korea Fund by 122.1% in the first quarter. NewEdge Advisors LLC now owns 1,355 shares of the company’s stock valued at $61,000 after buying an additional 745 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in The Korea Fund by 1.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock worth $4,437,000 after buying an additional 1,433 shares during the last quarter. Hudson Portfolio Management LLC acquired a new position in The Korea Fund during the second quarter worth $209,000. Finally, Corient Private Wealth LP bought a new stake in The Korea Fund during the second quarter worth $360,000. 69.99% of the stock is currently owned by institutional investors.

The Korea Fund Company Profile

The Korea Fund, Inc (NYSE: KF) is a non-diversified, closed-end investment company focused on South Korea. Its investment objective is long-term capital appreciation through investments primarily in the equity securities of Korean companies.

The fund provides investors with exposure to a range of industries and businesses within South Korea, including companies listed on the country’s public equity markets. Its portfolio may include large, established businesses as well as other Korean issuers selected for their growth and investment potential.

Established in 1984, The Korea Fund was among the early country-focused investment funds designed to give international investors access to South Korea’s developing capital markets.