City of London Investment Management Co. Ltd. Increases Stake in The Korea Fund, Inc. (NYSE:KF)

Key Points

• City of London Investment Management Co. Ltd. has increased its stake in The Korea Fund, Inc. by 6.7%, acquiring an additional 67,623 shares, bringing its total ownership to approximately 22.39% of the fund.
• The Korea Fund stock opened at $27.77 and has seen a 12-month price range of $18.15 to $28.22, indicating significant volatility in its trading performance.
• Institutional investors currently own 69.99% of The Korea Fund, reflecting strong interest from large financial entities in the mutual fund's performance.

City of London Investment Management Co. Ltd. increased its holdings in The Korea Fund, Inc. (NYSE:KF - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,082,190 shares of the company's stock after buying an additional 67,623 shares during the period. The Korea Fund accounts for 2.3% of City of London Investment Management Co. Ltd.'s investment portfolio, making the stock its 15th biggest position. City of London Investment Management Co. Ltd. owned approximately 22.39% of The Korea Fund worth $21,601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of KF. PNC Financial Services Group Inc. increased its holdings in shares of The Korea Fund by 69.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,470 shares of the company's stock worth $29,000 after purchasing an additional 600 shares during the period. Bank of America Corp DE increased its holdings 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 worth $91,000 after purchasing an additional 1,350 shares during the period. Chemistry Wealth Management LLC bought a new position in shares of The Korea Fund in the first quarter worth $238,000. CSS LLC IL increased its holdings in shares of The Korea Fund by 33.8% in the fourth quarter. CSS LLC IL now owns 18,512 shares of the company's stock worth $341,000 after purchasing an additional 4,677 shares during the period. Finally, Logan Stone Capital LLC bought a new position in shares of The Korea Fund in the fourth quarter worth $417,000. 69.99% of the stock is owned by institutional investors.

The Korea Fund Trading Up 0.3%

Shares of The Korea Fund stock traded up $0.07 during trading on Friday, hitting $27.82. The stock had a trading volume of 9,357 shares, compared to its average volume of 9,875. The Korea Fund, Inc. has a 12 month low of $18.15 and a 12 month high of $28.22. The business's 50-day moving average is $26.57 and its 200 day moving average is $22.65.

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.