The Korea Fund (NYSE:KF) Trading 0% Higher – Still a Buy?

The Korea Fund, Inc. (NYSE:KF)’s share price shot up 0% on Tuesday . The stock traded as high as $20.17 and last traded at $19.74. 7,953 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 18,309 shares. The stock had previously closed at $19.73.

The Korea Fund Price Performance

The company has a 50 day simple moving average of $19.72 and a 200 day simple moving average of $22.03.

The Korea Fund Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 27th were given a dividend of $0.4542 per share. The ex-dividend date was Friday, December 27th.

Hedge Funds Weigh In On The Korea Fund

Several hedge funds and other institutional investors have recently made changes to their positions in KF. Matisse Capital acquired a new stake in The Korea Fund during the fourth quarter worth approximately $291,000. Wolverine Asset Management LLC boosted its stake in The Korea Fund by 76.5% in the 3rd quarter. Wolverine Asset Management LLC now owns 31,994 shares of the company’s stock valued at $728,000 after purchasing an additional 13,869 shares during the period. Mraz Amerine & Associates Inc. increased its holdings 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 purchasing an additional 13,185 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of The Korea Fund in the third quarter valued at approximately $6,220,000. 69.99% of the stock is 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.