The Korea Fund, Inc. $KF Shares Bought by Saba Capital Management L.P.

Key Points

• Saba Capital Management increased its stake in The Korea Fund by 213.3% during the first quarter, purchasing 148,522 additional shares. It now owns 218,139 shares, or 5.24% of the fund, valued at approximately $9.8 million.
• Other institutional investors also added to their positions, and hedge funds and institutions collectively own approximately 69.99% of KF.
• The Korea Fund’s shares opened at $58.22, down 2.1%, with a 12-month trading range of $26.66 to $81.94. The closed-end fund provides U.S. investors with exposure to South Korean equities.

Saba Capital Management L.P. grew its holdings in The Korea Fund, Inc. (NYSE:KF - Free Report) by 213.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 218,139 shares of the company's stock after buying an additional 148,522 shares during the period. Saba Capital Management L.P. owned 5.24% of The Korea Fund worth $9,794,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of The Korea Fund by 1.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company's stock worth $4,437,000 after buying an additional 1,433 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in The Korea Fund by 9.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 27,870 shares of the company's stock valued at $1,012,000 after acquiring an additional 2,385 shares during the period. Wolverine Asset Management LLC purchased a new stake in The Korea Fund during the 4th quarter valued at approximately $439,000. Nations Financial Group Inc. IA ADV purchased a new stake in The Korea Fund during the 4th quarter valued at approximately $225,000. Finally, NewEdge Advisors LLC lifted its position in 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 acquiring an additional 610 shares during the period. Institutional investors and hedge funds own 69.99% of the company's stock.

The Korea Fund Trading Down 2.1%

Shares of KF stock opened at $58.22 on Tuesday. The business's 50 day moving average is $69.62 and its two-hundred day moving average is $57.18. The Korea Fund, Inc. has a twelve month low of $26.66 and a twelve month high of $81.94.

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.

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