The Korea Fund, Inc. (NYSE:KF) Short Interest Update

Key Points

• Short interest fell 70.3% to 1,291 shares as of August 14, down from 4,344 shares on July 30. Short interest represents just 0.1% of outstanding shares, with a days-to-cover ratio of 0.0.
• Institutional investors own approximately 69.99% of The Korea Fund, with several firms recently increasing their positions or initiating new stakes.
• KF shares rose 1.4% to $64.60 during mid-day trading. The closed-end fund provides U.S. investors with focused exposure to South Korean equities and trades between a 52-week range of $26.79 to $81.94.

The Korea Fund, Inc. (NYSE:KF - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 1,291 shares, a drop of 70.3% from the July 30th total of 4,344 shares. Based on an average daily volume of 26,668 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Trading of The Korea Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of The Korea Fund by 91.7% in the first quarter. NewEdge Advisors LLC now owns 1,275 shares of the company's stock worth $25,000 after purchasing an additional 610 shares during the period. Bank of America Corp DE increased its stake in 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 during the last quarter. Hudson Portfolio Management LLC bought a new position in The Korea Fund in the 2nd quarter worth about $209,000. Wolverine Asset Management LLC purchased a new stake in shares of The Korea Fund in the 4th quarter valued at about $439,000. Finally, Cornerstone Wealth Management LLC boosted its position in shares of The Korea Fund by 9.4% during 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 last quarter. Institutional investors own 69.99% of the company's stock.

The Korea Fund Stock Up 1.4%

KF stock traded up $0.87 during mid-day trading on Thursday, reaching $64.60. 39,356 shares of the company traded hands, compared to its average volume of 24,904. The company has a fifty day moving average price of $64.84 and a 200-day moving average price of $59.87. The Korea Fund has a 52-week low of $26.79 and a 52-week 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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