1607 Capital Partners LLC Reduces Stock Holdings in The Korea Fund, Inc. $KF

Key Points

• 1607 Capital Partners LLC reduced its stake in The Korea Fund, Inc. by 23.7% during the first quarter, now holding approximately 249,345 shares valued at $4.98 million.
• Other institutional investors, such as PNC Financial Services and Bank of America, have increased their holdings in The Korea Fund, with ownership by institutions reaching nearly 70%.
• As of the latest data, the share price for The Korea Fund is $27.09, with a 12-month high of $28.49 and a low of $18.15.

1607 Capital Partners LLC decreased its position in shares of The Korea Fund, Inc. (NYSE:KF - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 249,345 shares of the company's stock after selling 77,578 shares during the quarter. 1607 Capital Partners LLC owned about 5.16% of The Korea Fund worth $4,977,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KF. PNC Financial Services Group Inc. grew its position in shares of The Korea Fund by 69.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,470 shares of the company's stock worth $29,000 after buying an additional 600 shares during the period. Bank of America Corp DE increased its stake in 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 purchasing an additional 1,350 shares in the last quarter. Chemistry Wealth Management LLC bought a new stake in The Korea Fund during the 1st quarter valued at $238,000. CSS LLC IL increased its stake in The Korea Fund by 33.8% during the 4th quarter. CSS LLC IL now owns 18,512 shares of the company's stock valued at $341,000 after purchasing an additional 4,677 shares in the last quarter. Finally, Logan Stone Capital LLC bought a new stake in The Korea Fund during the 4th quarter valued at $417,000. Institutional investors own 69.99% of the company's stock.

The Korea Fund Price Performance

KF traded up $0.42 during mid-day trading on Friday, reaching $27.93. 3,072 shares of the stock were exchanged, compared to its average volume of 4,527. The company has a 50 day moving average price of $27.49 and a two-hundred day moving average price of $23.70. The Korea Fund, Inc. has a 1 year low of $18.15 and a 1 year high of $28.49.

About The Korea Fund

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.