Public Employees Retirement System of Ohio Sells 152,130 Shares of The Korea Fund, Inc. $KF

Public Employees Retirement System of Ohio cut its stake in shares of The Korea Fund, Inc. (NYSE:KF) by 63.1% during the first quarter, HoldingsChannel.com reports. The fund owned 89,061 shares of the company’s stock after selling 152,130 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in The Korea Fund were worth $3,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of The Korea Fund by 37.5% in the fourth quarter. Bank of America Corp DE now owns 4,953 shares of the company’s stock valued at $91,000 after purchasing an additional 1,350 shares during the period. NewEdge Advisors LLC increased its holdings in The Korea Fund by 91.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock worth $25,000 after purchasing an additional 610 shares during the period. Nations Financial Group Inc. IA ADV purchased a new position in The Korea Fund during the 4th quarter worth $225,000. Wolverine Asset Management LLC bought a new stake in The Korea Fund during the 4th quarter valued at $439,000. Finally, Cornerstone Wealth Management LLC raised its position in The Korea Fund by 9.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 27,870 shares of the company’s stock valued at $1,012,000 after purchasing an additional 2,385 shares in the last quarter. Institutional investors own 69.99% of the company’s stock.

The Korea Fund Trading Up 9.5%

Shares of KF stock opened at $56.80 on Friday. The Korea Fund, Inc. has a twelve month low of $26.66 and a twelve month high of $81.94. The stock has a fifty day simple moving average of $68.96 and a two-hundred day simple moving average of $57.49.

The Korea Fund 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.