The Korea Fund, Inc. (NYSE:KF) Stock Short Interest Jumps 76.1%

The Korea Fund, Inc. (NYSE:KF) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 2,843 shares, a growth of 76.1% from the August 31st total of 1,614 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 26,632 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On The Korea Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Saba Capital Management L.P. lifted its stake in The Korea Fund by 213.3% in the first quarter. Saba Capital Management L.P. now owns 218,139 shares of the company’s stock valued at $9,794,000 after buying an additional 148,522 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of The Korea Fund by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 98,822 shares of the company’s stock valued at $4,437,000 after acquiring an additional 1,433 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of The Korea Fund in the 2nd quarter valued at $360,000. Hudson Portfolio Management LLC acquired a new position in shares of The Korea Fund during the 2nd quarter valued at $209,000. Finally, NewEdge Advisors LLC lifted its position in shares of The Korea Fund by 122.1% during the 1st quarter. NewEdge Advisors LLC now owns 1,355 shares of the company’s stock valued at $61,000 after acquiring an additional 745 shares during the period. Institutional investors own 69.99% of the company’s stock.

The Korea Fund Price Performance

NYSE KF traded up $0.19 during mid-day trading on Thursday, reaching $65.85. 11,365 shares of the stock were exchanged, compared to its average volume of 25,044. The Korea Fund has a one year low of $30.99 and a one year high of $81.94. The stock has a 50 day simple moving average of $63.14 and a 200-day simple moving average of $62.58.

About The Korea Fund

The Korea Fund, Inc (NYSE: KF) is a non-diversified, closed-end investment company focused on South Korea. Its investment objective is long-term capital appreciation through investments primarily in the equity securities of Korean companies.

The fund provides investors with exposure to a range of industries and businesses within South Korea, including companies listed on the country’s public equity markets. Its portfolio may include large, established businesses as well as other Korean issuers selected for their growth and investment potential.

Established in 1984, The Korea Fund was among the early country-focused investment funds designed to give international investors access to South Korea’s developing capital markets.