Shares of The Korea Fund, Inc. (NYSE:KF – Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $55.13 and traded as high as $67.47. The Korea Fund shares last traded at $65.9930, with a volume of 10,185 shares traded.
The Korea Fund Price Performance
The stock has a 50 day moving average of $55.13 and a 200-day moving average of $46.24.
Hedge Funds Weigh In On The Korea Fund
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KF. NewEdge Advisors LLC raised 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 worth $25,000 after acquiring an additional 610 shares during the last quarter. Bank of America Corp DE raised 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 last quarter. Nations Financial Group Inc. IA ADV purchased a new position in shares of The Korea Fund during the 4th quarter valued at about $225,000. Wolverine Asset Management LLC purchased a new position in shares of The Korea Fund during the 4th quarter valued at about $439,000. Finally, Cornerstone Wealth Management LLC raised its stake in shares of The Korea Fund by 155.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 25,485 shares of the company’s stock valued at $779,000 after buying an additional 15,495 shares during the last quarter. Hedge funds and other institutional investors own 69.99% of the company’s stock.
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.
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