The Korea Fund, Inc. $KF Stake Lessened by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in The Korea Fund, Inc. by 15.4%, selling 37,368 shares, and now owns approximately 4.26% of the fund, valued at $5,547,000.
• Multiple institutional investors have increased their holdings in The Korea Fund, with Bank of America boosting its stake by 37.5% and PNC Financial Services increasing its holdings by 69.0% in the first quarter.
• The Korea Fund's stock has risen 3.3%, currently trading at $34.09, with a 12-month low of $18.15 and a high of $33.96.

Allspring Global Investments Holdings LLC lessened its stake in The Korea Fund, Inc. (NYSE:KF - Free Report) by 15.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,975 shares of the company's stock after selling 37,368 shares during the period. Allspring Global Investments Holdings LLC owned about 4.26% of The Korea Fund worth $5,547,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE boosted its holdings in 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. Matisse Capital boosted its holdings in The Korea Fund by 37.7% in the first quarter. Matisse Capital now owns 21,710 shares of the company's stock worth $433,000 after purchasing an additional 5,946 shares during the period. Mraz Amerine & Associates Inc. boosted its holdings in The Korea Fund by 5.0% in the first quarter. Mraz Amerine & Associates Inc. now owns 65,208 shares of the company's stock worth $1,313,000 after purchasing an additional 3,097 shares during the period. PNC Financial Services Group Inc. boosted its holdings in 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. Finally, City of London Investment Management Co. Ltd. boosted its holdings in The Korea Fund by 6.7% in the first quarter. City of London Investment Management Co. Ltd. now owns 1,082,190 shares of the company's stock worth $21,601,000 after purchasing an additional 67,623 shares during the period. Institutional investors own 69.99% of the company's stock.

The Korea Fund Stock Up 3.3%

The Korea Fund stock opened at $34.09 on Tuesday. The company has a fifty day moving average price of $29.64 and a two-hundred day moving average price of $25.94. The Korea Fund, Inc. has a 12 month low of $18.15 and a 12 month high of $33.96.

The Korea Fund 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.

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