City of London Investment Management Co. Ltd. Acquires 134,103 Shares of The Korea Fund, Inc. $KF

City of London Investment Management Co. Ltd. lifted its holdings in shares of The Korea Fund, Inc. (NYSE:KF) by 10.1% during the third quarter, HoldingsChannel reports. The firm owned 1,456,201 shares of the company’s stock after purchasing an additional 134,103 shares during the quarter. The Korea Fund accounts for about 3.3% of City of London Investment Management Co. Ltd.’s investment portfolio, making the stock its 12th biggest holding. City of London Investment Management Co. Ltd. owned approximately 0.30% of The Korea Fund worth $44,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in KF. Bank of America Corp DE boosted its holdings in shares of The Korea Fund by 37.5% in the 4th 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 during the last quarter. NewEdge Advisors LLC increased its holdings in The Korea Fund by 91.7% during the first quarter. NewEdge Advisors LLC now owns 1,275 shares of the company’s stock worth $25,000 after buying an additional 610 shares during the last quarter. Shaker Financial Services LLC bought a new stake in The Korea Fund in the third quarter worth about $242,000. Finally, Cornerstone Wealth Management LLC raised its position in The Korea Fund by 155.1% in the third 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 during the period. 69.99% of the stock is owned by hedge funds and other institutional investors.

The Korea Fund Trading Down 0.6%

KF opened at $45.37 on Friday. The Korea Fund, Inc. has a twelve month low of $18.15 and a twelve month high of $58.59. The company’s 50-day moving average price is $46.70 and its two-hundred day moving average price is $37.90.

The Korea Fund Company Profile

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.