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

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 rose 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 changed hands 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 Price Performance

The business has a fifty day simple moving average of $26.03 and a 200 day simple moving average of $22.38.

Institutional Trading of The Korea Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in shares of The Korea Fund by 37.5% during the 4th quarter. Bank of America Corp DE now owns 4,953 shares of the company's stock worth $91,000 after purchasing an additional 1,350 shares during the period. Logan Stone Capital LLC acquired a new stake in shares of The Korea Fund during the 4th quarter worth $417,000. Lazard Asset Management LLC increased its holdings in shares of The Korea Fund by 8.5% during the 4th quarter. Lazard Asset Management LLC now owns 640,223 shares of the company's stock worth $11,807,000 after buying an additional 50,165 shares during the last quarter. CSS LLC IL raised its position in shares of The Korea Fund by 33.8% in the 4th quarter. CSS LLC IL now owns 18,512 shares of the company's stock worth $341,000 after buying an additional 4,677 shares during the period. Finally, Chemistry Wealth Management LLC acquired a new position in The Korea Fund in the first quarter valued at $238,000. 69.99% of the stock is currently 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.