City of London Investment Management Co. Ltd. Increases Stock Holdings in The Korea Fund, Inc. $KF

Key Points

• City of London Investment Management raised its stake in The Korea Fund by 10.1% in Q3 to 1,456,201 shares (adding 134,103 shares), a position valued at about $44.54 million that is its 12th largest holding and represents 3.3% of the manager’s portfolio.
• About 69.99% of The Korea Fund is owned by hedge funds and other institutional investors, with recent activity from NewEdge Advisors, Bank of America, Shaker Financial and Cornerstone Wealth Management increasing or initiating positions.
• The Korea Fund (KF) opened at $45.37, with a 52‑week range of $18.15 to $58.59 and moving averages of $46.70 (50‑day) and $37.90 (200‑day).

City of London Investment Management Co. Ltd. increased its stake in shares of The Korea Fund, Inc. (NYSE:KF - Free Report) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,456,201 shares of the company's stock after buying an additional 134,103 shares during the quarter. The Korea Fund accounts for 3.3% of City of London Investment Management Co. Ltd.'s investment portfolio, making the stock its 12th largest holding. City of London Investment Management Co. Ltd. owned 30.13% of The Korea Fund worth $44,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in The Korea Fund by 91.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,275 shares of the company's stock valued at $25,000 after acquiring an additional 610 shares in the last quarter. Bank of America Corp DE grew its stake in shares of The Korea Fund by 37.5% in the 4th quarter. Bank of America Corp DE now owns 4,953 shares of the company's stock worth $91,000 after acquiring an additional 1,350 shares in the last quarter. Shaker Financial Services LLC purchased a new stake in shares of The Korea Fund in the third quarter valued at about $242,000. Finally, Cornerstone Wealth Management LLC raised its holdings in shares of The Korea Fund by 155.1% in the third quarter. Cornerstone Wealth Management LLC now owns 25,485 shares of the company's stock valued at $779,000 after purchasing an additional 15,495 shares during the last quarter. 69.99% of the stock is owned by hedge funds and other institutional investors.

The Korea Fund Price Performance

KF opened at $45.37 on Friday. The Korea Fund, Inc. has a fifty-two week low of $18.15 and a fifty-two week high of $58.59. The company's 50-day moving average is $46.70 and its 200 day moving average is $37.90.

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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