The Korea Fund, Inc. (NYSE:KF – Get Rating) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 5,000 shares, a decrease of 30.6% from the May 31st total of 7,200 shares. Based on an average trading volume of 8,400 shares, the short-interest ratio is presently 0.6 days.
Shares of NYSE KF traded down $0.24 during midday trading on Friday, reaching $24.11. The company’s stock had a trading volume of 10,205 shares, compared to its average volume of 4,759. The company has a 50 day moving average price of $27.41 and a 200 day moving average price of $30.44. The Korea Fund has a one year low of $24.00 and a one year high of $46.30.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KF. Wolverine Asset Management LLC raised its holdings in shares of The Korea Fund by 247.6% during the first quarter. Wolverine Asset Management LLC now owns 10,754 shares of the company’s stock valued at $323,000 after acquiring an additional 7,660 shares during the period. Shaker Financial Services LLC grew its position in The Korea Fund by 88.3% during the first quarter. Shaker Financial Services LLC now owns 11,069 shares of the company’s stock valued at $333,000 after purchasing an additional 5,192 shares in the last quarter. Matisse Capital bought a new stake in The Korea Fund in the fourth quarter worth approximately $334,000. Segantii Capital Management Ltd bought a new stake in The Korea Fund in the fourth quarter worth approximately $725,000. Finally, Bank of America Corp DE grew its position in The Korea Fund by 10.4% in the first quarter. Bank of America Corp DE now owns 27,142 shares of the company’s stock worth $817,000 after acquiring an additional 2,563 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.
The Korea Fund Company Profile (Get Rating)
The Korea Fund, Inc is a closed-ended equity mutual fund launched and managed by Allianz Global Investors U.S. LLC. The fund invests in the public equity markets of Korea. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in growth stocks of companies.
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