The Korea Fund, Inc. (NYSE:KF) Short Interest Up 117.4% in October

The Korea Fund, Inc. (NYSE:KF) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 5,000 shares, a growth of 117.4% from the September 30th total of 2,300 shares. Based on an average daily trading volume, of 18,300 shares, the days-to-cover ratio is currently 0.3 days.

The Korea Fund Price Performance

NYSE:KF traded down $0.03 during trading hours on Friday, hitting $21.85. 3,356 shares of the stock traded hands, compared to its average volume of 16,903. The stock has a 50 day moving average price of $23.50 and a 200 day moving average price of $23.94. The Korea Fund has a 1 year low of $18.30 and a 1 year high of $26.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mraz Amerine & Associates Inc. lifted its stake in shares of The Korea Fund by 36.6% during the third quarter. Mraz Amerine & Associates Inc. now owns 49,210 shares of the company’s stock worth $1,120,000 after buying an additional 13,185 shares during the period. JBF Capital Inc. grew its holdings in The Korea Fund by 16.4% in the second quarter. JBF Capital Inc. now owns 142,000 shares of the company’s stock valued at $3,426,000 after purchasing an additional 20,000 shares during the period. Shaker Financial Services LLC increased its holdings in The Korea Fund by 3.3% in the 2nd quarter. Shaker Financial Services LLC now owns 13,161 shares of the company’s stock worth $318,000 after acquiring an additional 415 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of The Korea Fund during the second quarter worth about $437,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of The Korea Fund in the first quarter valued at approximately $2,041,000. 69.99% of the stock is currently owned by institutional investors.

The Korea Fund Company Profile

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.