The Korea Fund, Inc. (NYSE:KF) Experiences 71% Drop in Short Interest

The Korea Fund, Inc. (NYSE:KF) experienced a notable decline in short interest during January. By January 31st, total short interest reached 4,700 shares, marking a 71.0% decrease from the 16,200 shares recorded on January 15th. This drop indicates a significant shift in market sentiment around the fund, as investors reevaluate their positions.

With an average daily trading volume of 22,700 shares, the current days-to-cover ratio stands at a mere 0.2 days. This means that, based on the trading volume, it would only take two-tenths of a day to cover all short positions, suggesting that the market is not likely to see significant short activity around The Korea Fund in the immediate future.

Hedge Funds' Involvement with The Korea Fund

Recent months have seen significant activity from hedge funds and institutional investors regarding The Korea Fund. For instance, Matisse Capital established a new position in the fund during the fourth quarter, investing approximately $291,000. Meanwhile, Wolverine Asset Management LLC increasing its stake by 76.5% in the third quarter, accumulating a total of 31,994 shares valued at around $728,000 after adding 13,869 shares during the last quarter.

Another notable investor, Mraz Amerine & Associates Inc., raised its position by 36.6% during the third quarter. They currently hold 49,210 shares valued at $1,120,000 after purchasing an additional 13,185 shares in the last quarter. Additionally, the Public Employees Retirement System of Ohio acquired a new position worth approximately $6,220,000 in the same quarter. Collectively, institutional investors and hedge funds own about 69.99% of The Korea Fund's stock.

Performance of The Korea Fund Stock

In trading on a recent Wednesday, shares of The Korea Fund rose by $0.01 to reach a price of $20.30. The trading volume for that day was 2,910 shares, which is below its average volume of 14,668. Over the past twelve months, the stock has fluctuated between a low of $18.35 and a high of $26.30. Currently, The Korea Fund shows a fifty-day simple moving average of $19.63 and a 200-day simple moving average of $21.66.

Dividend Information from The Korea Fund

Recently, The Korea Fund announced a dividend which was disbursed on January 6th. Shareholders who were on record as of December 27th received a dividend of $0.4542. The ex-dividend date was also on December 27th. Such dividends are of crucial interest for investors as they contribute to the overall return on investment.

About The Korea Fund

The Korea Fund, Inc. is a closed-end equity mutual fund that is managed by Allianz Global Investors U.S. LLC. This fund focuses on investing within public equity markets in Korea, targeting stocks from companies in varied sectors. The primary focus is on growth stocks, aiming to provide substantial returns to its investors.

Korea, Fund, Investors