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

The Korea Fund, Inc. (NYSE:KF) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 6,100 shares, a decline of 15.3% from the July 15th total of 7,200 shares. Based on an average daily volume of 8,400 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KF. Matisse Capital purchased a new position in shares of The Korea Fund in the fourth quarter worth about $2,013,000. 1607 Capital Partners LLC increased its holdings in shares of The Korea Fund by 1.2% in the fourth quarter. 1607 Capital Partners LLC now owns 451,816 shares of the company’s stock worth $10,572,000 after buying an additional 5,316 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of The Korea Fund in the first quarter worth about $2,041,000. Mraz Amerine & Associates Inc. increased its holdings in shares of The Korea Fund by 169.9% in the second quarter. Mraz Amerine & Associates Inc. now owns 36,025 shares of the company’s stock worth $869,000 after buying an additional 22,675 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in shares of The Korea Fund in the second quarter worth about $437,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.

The Korea Fund Trading Up 1.6 %

KF stock traded up $0.39 during mid-day trading on Friday, hitting $24.78. 5,252 shares of the stock were exchanged, compared to its average volume of 12,681. The business has a fifty day moving average price of $24.52 and a 200 day moving average price of $24.12. The Korea Fund has a 12 month low of $18.30 and a 12 month high of $26.30.

The Korea Fund Company Profile

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.