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

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

The Korea Fund Trading Down 4.5%

NYSE KF opened at $60.05 on Friday. The firm has a 50-day simple moving average of $70.65 and a 200 day simple moving average of $56.03. The Korea Fund has a twelve month low of $26.66 and a twelve month high of $81.94.

Hedge Funds Weigh In On The Korea Fund

Several large investors have recently added to or reduced their stakes in KF. NewEdge Advisors LLC grew its holdings in shares of The Korea Fund by 91.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock worth $25,000 after purchasing an additional 610 shares in the last quarter. Bank of America Corp DE raised its stake in shares of The Korea Fund by 37.5% in the fourth 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. Allspring Global Investments Holdings LLC raised its stake in shares of The Korea Fund by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock valued at $4,437,000 after purchasing an additional 1,433 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in The Korea Fund by 9.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 27,870 shares of the company’s stock worth $1,012,000 after purchasing an additional 2,385 shares during the period. Finally, Nations Financial Group Inc. IA ADV bought a new position in The Korea Fund in the fourth quarter worth $225,000. Institutional investors and hedge funds own 69.99% of the company’s stock.

About The Korea Fund

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.