The Korea Fund (NYSE:KF) Trading Up 0.4% - What's Next?

Key Points

• The Korea Fund traded up 0.4% to about $59.65 mid-day (intraday high $60.21) on light volume—9,843 shares, roughly 58% below its average session volume.
• Several institutions boosted holdings recently (City of London, Saba, Cornerstone among them), and institutional investors now own about 69.99% of the fund.
• The Korea Fund is a long-established (since 1953) closed-end fund that gives U.S. investors focused exposure to South Korean equities.

Shares of The Korea Fund, Inc. (NYSE:KF - Get Free Report) traded up 0.4% during mid-day trading on Friday . The company traded as high as $60.21 and last traded at $59.6510. 9,843 shares were traded during mid-day trading, a decline of 58% from the average session volume of 23,441 shares. The stock had previously closed at $59.42.

The Korea Fund Stock Up 0.4%

The business has a 50 day moving average price of $50.47 and a 200-day moving average price of $42.66.

Institutional Investors Weigh In On The Korea Fund

A number of large investors have recently modified their holdings of KF. City of London Investment Management Co. Ltd. grew its stake in shares of The Korea Fund by 10.1% in the third quarter. City of London Investment Management Co. Ltd. now owns 1,456,201 shares of the company's stock valued at $44,538,000 after buying an additional 134,103 shares in the last quarter. Saba Capital Management L.P. grew its stake in shares of The Korea Fund by 117.9% in the fourth quarter. Saba Capital Management L.P. now owns 69,617 shares of the company's stock valued at $2,528,000 after buying an additional 37,668 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of The Korea Fund by 155.1% in the third quarter. Cornerstone Wealth Management LLC now owns 25,485 shares of the company's stock valued at $779,000 after buying an additional 15,495 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of The Korea Fund in the fourth quarter valued at about $439,000. Finally, Shaker Financial Services LLC acquired a new stake in shares of The Korea Fund in the third quarter valued at about $242,000. Institutional investors and hedge funds own 69.99% of the company's stock.

The Korea Fund Company Profile

The Korea Fund, Inc NYSE: KF is a closed-end management investment company that provides U.S. investors with focused exposure to the South Korean equity market. Established in 1953, it is one of the oldest U.S. funds dedicated to investing in Korean securities. The Fund is domiciled in Delaware and trades on the New York Stock Exchange, offering investors access to a broad range of companies operating in one of Asia's leading economies.

The Fund's primary business activity is the acquisition of common stocks and American depositary receipts issued by companies that are either domiciled in South Korea or derive a significant portion of their revenues from Korean operations.

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