The Korea Fund, Inc. (NYSE:KF) Sees Large Increase in Short Interest

Key Points

• The Korea Fund, Inc. (NYSE:KF) experienced a significant increase in short interest, rising 129.0% from 6,200 shares to 14,200 shares as of July 31st.
• The stock of The Korea Fund is currently down 0.4%, trading at $27.87 with a 50-day moving average of $26.98.
• A majority of the stock, approximately 69.99%, is owned by hedge funds and institutional investors, indicating strong institutional interest.

The Korea Fund, Inc. (NYSE:KF - ) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 14,200 shares, agrowthof129.0% from the July 15th total of 6,200 shares. Based on an average daily volume of 13,400 shares, the days-to-cover ratio is currently 1.1 days. Currently,0.7% of the company's stock are sold short. Currently,0.7% of the company's stock are sold short. Based on an average daily volume of 13,400 shares, the days-to-cover ratio is currently 1.1 days.

The Korea Fund Stock Down 0.4%

Shares of NYSE KF traded down $0.10 during trading hours on Friday, reaching $27.87. The stock had a trading volume of 3,229 shares, compared to its average volume of 8,429. The firm has a 50-day moving average of $26.98 and a 200-day moving average of $22.95. The Korea Fund has a fifty-two week low of $18.15 and a fifty-two week high of $28.49.

Hedge Funds Weigh In On The Korea Fund

A number of large investors have recently modified their holdings of KF. Allspring Global Investments Holdings LLC boosted its holdings in shares of The Korea Fund by 1.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 243,343 shares of the company's stock worth $4,857,000 after purchasing an additional 3,479 shares during the last quarter. Chemistry Wealth Management LLC acquired a new stake in shares of The Korea Fund during the first quarter worth $238,000. City of London Investment Management Co. Ltd. boosted its holdings in shares of The Korea Fund by 6.7% during 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 last quarter. Logan Stone Capital LLC acquired a new stake in shares of The Korea Fund during the fourth quarter worth $417,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of The Korea Fund by 8.5% during the fourth quarter. Lazard Asset Management LLC now owns 640,223 shares of the company's stock worth $11,807,000 after purchasing an additional 50,165 shares during the last quarter. 69.99% of the stock is owned by hedge funds and other institutional investors.

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.

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