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

Key Points

• The Korea Fund, Inc. (NYSE:KF) experienced a significant decrease in short interest, dropping by 48.0% from August 15th to August 31st, bringing the total to 6,600 shares.
• The Korea Fund’s stock opened at $29.98, with a 1-year high of $29.99 and a low of $18.15, showing a strong performance over the past year.
• Institutional investors hold 69.99% of the company's stock, with notable increases in holdings by firms such as PNC Financial Services and NewEdge Advisors in the first quarter.

The Korea Fund, Inc. (NYSE:KF - ) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 6,600 shares, a drop of 48.0% from the August 15th total of 12,700 shares. Currently, 0.3% of the company's stock are sold short. Based on an average daily volume of 8,000 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 8,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.3% of the company's stock are sold short.

The Korea Fund Stock Performance

The Korea Fund stock opened at $29.98 on Friday. The firm's fifty day simple moving average is $27.68 and its 200-day simple moving average is $23.97. The Korea Fund has a 1-year low of $18.15 and a 1-year high of $29.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in shares of The Korea Fund by 69.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,470 shares of the company's stock valued at $29,000 after purchasing an additional 600 shares in the last quarter. NewEdge Advisors LLC grew its stake in The Korea Fund by 91.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,275 shares of the company's stock valued at $25,000 after buying an additional 610 shares during the last quarter. Bank of America Corp DE grew 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 valued at $91,000 after buying an additional 1,350 shares during the last quarter. Mraz Amerine & Associates Inc. grew its stake in The Korea Fund by 4.6% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 68,188 shares of the company's stock valued at $1,836,000 after buying an additional 2,980 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in The Korea Fund by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 243,343 shares of the company's stock valued at $4,857,000 after buying an additional 3,479 shares during the last quarter. Institutional investors own 69.99% of the company's stock.

The Korea Fund Company 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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