The Korea Fund, Inc. (NYSE:KF - Get Free Report) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 14,200 shares, an increase of 118.5% from the May 15th total of 6,500 shares. Currently, 0.7% of the company's shares are short sold. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is currently 0.8 days.
Institutional Investors Weigh In On The Korea Fund
A number of institutional investors have recently modified their holdings of the company. City of London Investment Management Co. Ltd. boosted its stake in 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 acquiring an additional 67,623 shares in the last quarter. Lazard Asset Management LLC boosted its stake in 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 acquiring an additional 50,165 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in The Korea Fund by 128.7% during the fourth quarter. Wolverine Asset Management LLC now owns 73,165 shares of the company's stock worth $1,349,000 after acquiring an additional 41,171 shares in the last quarter. Logan Stone Capital LLC bought a new position in The Korea Fund during the fourth quarter worth $417,000. Finally, Strs Ohio bought a new position in The Korea Fund during the first quarter worth $395,000. 69.99% of the stock is owned by institutional investors.
The Korea Fund Trading Down 2.3%
Shares of NYSE:KF traded down $0.58 during trading on Friday, reaching $24.97. The stock had a trading volume of 13,012 shares, compared to its average volume of 17,413. The firm's fifty day moving average is $21.59 and its 200 day moving average is $20.60. The Korea Fund has a 52 week low of $18.15 and a 52 week high of $26.30.
The Korea Fund Company Profile
(
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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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