The Korea Fund, Inc. (NYSE:KF) Short Interest Up 1,629.9% in December
by Danessa Lincoln · The Markets DailyThe Korea Fund, Inc. (NYSE:KF – Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 2,543 shares, a growth of 1,629.9% from the November 30th total of 147 shares. Based on an average trading volume of 17,190 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 17,190 shares, the short-interest ratio is presently 0.1 days.
Institutional Investors Weigh In On The Korea Fund
A number of institutional investors have recently bought and sold shares of KF. NewEdge Advisors LLC lifted 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 valued at $25,000 after purchasing an additional 610 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of The Korea Fund by 37.5% during the fourth quarter. Bank of America Corp DE now owns 4,953 shares of the company’s stock worth $91,000 after buying an additional 1,350 shares in the last quarter. Mraz Amerine & Associates Inc. raised its stake in shares of The Korea Fund by 4.6% in the second quarter. Mraz Amerine & Associates Inc. now owns 68,188 shares of the company’s stock valued at $1,836,000 after acquiring an additional 2,980 shares during the last quarter. Shaker Financial Services LLC bought a new position in shares of The Korea Fund in the third quarter valued at approximately $242,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of The Korea Fund by 155.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 25,485 shares of the company’s stock worth $779,000 after acquiring an additional 15,495 shares in the last quarter. Institutional investors and hedge funds own 69.99% of the company’s stock.
The Korea Fund Price Performance
Shares of KF stock traded up $0.08 during mid-day trading on Wednesday, reaching $35.49. The stock had a trading volume of 11,010 shares, compared to its average volume of 16,664. The firm’s 50 day simple moving average is $35.04 and its 200 day simple moving average is $30.56. The Korea Fund has a one year low of $18.15 and a one year high of $37.69.
The Korea Fund Announces Dividend
The company also recently announced an annual dividend, which will be paid on Monday, January 12th. Investors of record on Tuesday, December 23rd will be paid a $0.9442 dividend. This represents a dividend yield of 123.0%. The ex-dividend date is Tuesday, December 23rd.
About The Korea Fund
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.