The Korea Fund (NYSE:KF) Shares Up 0.8% – Should You Buy?

by · The Cerbat Gem

The Korea Fund, Inc. (NYSE:KF – Get Free Report) rose 0.8% during mid-day trading on Monday . The stock traded as high as $36.38 and last traded at $36.09. Approximately 12,344 shares were traded during trading, a decline of 23% from the average daily volume of 15,929 shares. The stock had previously closed at $35.80.

The Korea Fund Stock Up 0.8%

The stock’s fifty day simple moving average is $34.10 and its 200 day simple moving average is $29.56.

Hedge Funds Weigh In On The Korea Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in shares of The Korea Fund by 37.5% in the 4th quarter. Bank of America Corp DE now owns 4,953 shares of the company’s stock worth $91,000 after acquiring an additional 1,350 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of The Korea Fund by 69.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,470 shares of the company’s stock valued at $29,000 after purchasing an additional 600 shares during the period. NewEdge Advisors LLC increased its position in The Korea Fund by 91.7% during the first 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 last quarter. Strs Ohio purchased a new position in The Korea Fund during the first quarter worth about $395,000. Finally, Mraz Amerine & Associates Inc. boosted its holdings in The Korea Fund by 4.6% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 68,188 shares of the company’s stock valued at $1,836,000 after purchasing an additional 2,980 shares during the last quarter. Institutional investors and hedge funds own 69.99% of the company’s stock.

The Korea Fund Company Profile

(Get Free Report)

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.

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