The Korea Fund, Inc. (NYSE:KF) Sees Large Decrease in Short Interest

The Korea Fund, Inc. (NYSE:KF) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 5,200 shares, a drop of 40.2% from the February 13th total of 8,700 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On The Korea Fund

Several hedge funds and other institutional investors have recently bought and sold shares of KF. Public Employees Retirement System of Ohio acquired a new position in The Korea Fund in the 3rd quarter worth approximately $6,220,000. Matisse Capital acquired a new stake in shares of The Korea Fund during the 4th quarter worth approximately $291,000. Mraz Amerine & Associates Inc. grew its stake in shares of The Korea Fund by 26.2% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 62,111 shares of the company’s stock worth $1,146,000 after purchasing an additional 12,901 shares during the period. Wolverine Asset Management LLC grew its stake in shares of The Korea Fund by 128.7% during the 4th quarter. Wolverine Asset Management LLC now owns 73,165 shares of the company’s stock worth $1,349,000 after purchasing an additional 41,171 shares during the period. Finally, Bank of America Corp DE grew 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. Institutional investors and hedge funds own 69.99% of the company’s stock.

The Korea Fund Price Performance

NYSE:KF traded up $0.07 during midday trading on Friday, hitting $20.44. The company’s stock had a trading volume of 6,943 shares, compared to its average volume of 11,387. The Korea Fund has a fifty-two week low of $18.35 and a fifty-two week high of $26.30. The firm’s 50 day moving average is $20.23 and its 200-day moving average is $21.10.

The Korea Fund Dividend Announcement

The firm also recently declared a — dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 27th were issued a $0.4542 dividend. The ex-dividend date was Friday, December 27th.

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.