The Korea Fund, Inc. (NYSE:KF – Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $58.99 and traded as high as $59.51. The Korea Fund shares last traded at $59.19, with a volume of 22,705 shares changing hands.
The Korea Fund Trading Up 5.4%
The firm’s 50-day moving average price is $63.09 and its 200-day moving average price is $58.99.
Institutional Investors Weigh In On The Korea Fund
A number of hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in The Korea Fund in the second quarter worth about $30,000. Corient Private Wealth LP bought a new stake in The Korea Fund during the second quarter worth approximately $360,000. Hudson Portfolio Management LLC purchased a new stake in The Korea Fund during the second quarter valued at approximately $209,000. NewEdge Advisors LLC raised its position in The Korea Fund by 122.1% during the first quarter. NewEdge Advisors LLC now owns 1,355 shares of the company’s stock valued at $61,000 after purchasing an additional 745 shares during the period. Finally, Saba Capital Management L.P. raised its position in The Korea Fund by 213.3% during the first quarter. Saba Capital Management L.P. now owns 218,139 shares of the company’s stock valued at $9,794,000 after purchasing an additional 148,522 shares during the period. Hedge funds and other institutional investors own 69.99% of the company’s stock.
About The Korea Fund
The Korea Fund, Inc (NYSE: KF) is a non-diversified, closed-end investment company focused on providing long-term capital appreciation through investments in South Korean securities. Unlike an operating company, it does not manufacture products or provide services directly; instead, it offers investors a professionally managed portfolio with exposure to Korea’s equity markets.
The fund invests primarily in the common stocks of companies organized or operating in South Korea. Its portfolio may also include other equity securities, such as preferred shares and securities that provide exposure to Korean companies.
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