Short Interest in The Korea Fund, Inc. (NYSE:KF) Increases By 46.9%

The Korea Fund, Inc. (NYSE:KF) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 7,200 shares, a growth of 46.9% from the June 30th total of 4,900 shares. Based on an average daily volume of 8,100 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On The Korea Fund

Large investors have recently made changes to their positions in the stock. 1607 Capital Partners LLC raised its holdings in The Korea Fund by 1.2% during the fourth quarter. 1607 Capital Partners LLC now owns 451,816 shares of the company’s stock worth $10,572,000 after purchasing an additional 5,316 shares during the last quarter. Matisse Capital acquired a new position in shares of The Korea Fund during the 4th quarter worth $2,013,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of The Korea Fund in the 1st quarter worth about $2,041,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.

The Korea Fund Price Performance

KF traded down $0.13 during trading on Monday, reaching $24.47. The company’s stock had a trading volume of 4,021 shares, compared to its average volume of 13,004. The company’s fifty day moving average price is $24.40 and its 200-day moving average price is $23.89. The Korea Fund has a 52-week low of $18.30 and a 52-week high of $26.30.

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.