The Korea Fund (NYSE:KF) Shares Up 0.3% - Here's What Happened

Key Points

• The Korea Fund shares rose by 0.3% to close at $27.87, with a notable decrease in trading volume compared to the average.
• Institutional investors currently hold 69.99% of the company's stock, indicating strong backing by large financial entities.
• Recent activity includes Allspring Global Investments increasing its stake by 1.5%, and Lazard Asset Management boosting its holdings by 8.5% in the last quarter.

The Korea Fund, Inc. (NYSE:KF - Get Free Report) shares were up 0.3% during mid-day trading on Wednesday . The stock traded as high as $28.00 and last traded at $27.87. Approximately 1,966 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 7,659 shares. The stock had previously closed at $27.79.

The Korea Fund Trading Down 3.4%

The business has a fifty day moving average of $26.03 and a 200 day moving average of $22.40.

Institutional Investors Weigh In On The Korea Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in KF. NewEdge Advisors LLC increased its holdings in The Korea Fund by 91.7% in the first quarter. NewEdge Advisors LLC now owns 1,275 shares of the company's stock valued at $25,000 after purchasing an additional 610 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of The Korea Fund by 69.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,470 shares of the company's stock valued at $29,000 after buying an additional 600 shares during the period. Bank of America Corp DE grew its stake in shares of 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 period. Chemistry Wealth Management LLC acquired a new stake in shares of The Korea Fund in the 1st quarter valued at about $238,000. Finally, CSS LLC IL lifted its position in The Korea Fund by 33.8% in the 4th quarter. CSS LLC IL now owns 18,512 shares of the company's stock valued at $341,000 after acquiring an additional 4,677 shares in the last quarter. 69.99% of the stock is currently owned by institutional investors.

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.