Short Interest in The Korea Fund, Inc. (NYSE:KF) Rises By 75.6%

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The Korea Fund, Inc. (NYSE:KFGet Rating) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 7,200 shares, a growth of 75.6% from the May 15th total of 4,100 shares. Based on an average daily trading volume, of 8,200 shares, the short-interest ratio is currently 0.9 days.

The Korea Fund stock traded down $0.63 during mid-day trading on Monday, hitting $27.37. 19 shares of the stock were exchanged, compared to its average volume of 7,440. The Korea Fund has a 12 month low of $26.33 and a 12 month high of $46.88. The firm’s fifty day simple moving average is $28.89 and its two-hundred day simple moving average is $32.00.

A number of hedge funds have recently modified their holdings of KF. Lazard Asset Management LLC grew its stake in shares of The Korea Fund by 2.1% in the 4th quarter. Lazard Asset Management LLC now owns 845,130 shares of the company’s stock worth $29,053,000 after acquiring an additional 17,156 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of The Korea Fund in the fourth quarter worth $9,616,000. Royal Bank of Canada increased its position in shares of The Korea Fund by 7.6% during the third quarter. Royal Bank of Canada now owns 31,311 shares of the company’s stock valued at $1,282,000 after buying an additional 2,209 shares during the period. Bank of America Corp DE increased its stake in The Korea Fund by 10.4% in the 1st quarter. Bank of America Corp DE now owns 27,142 shares of the company’s stock worth $817,000 after acquiring an additional 2,563 shares during the last quarter. Finally, Segantii Capital Management Ltd purchased a new stake in The Korea Fund during the fourth quarter valued at about $725,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

About The Korea Fund (Get Rating)

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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