City of London Investment Management Co. Ltd. Cuts Stock Position in The Korea Fund, Inc. (NYSE:KF)

City of London Investment Management Co. Ltd. cut its holdings in shares of The Korea Fund, Inc. (NYSE:KF) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,209,604 shares of the company’s stock after selling 58,282 shares during the quarter. The Korea Fund makes up approximately 2.5% of City of London Investment Management Co. Ltd.’s holdings, making the stock its 16th largest holding. City of London Investment Management Co. Ltd. owned about 24.58% of The Korea Fund worth $29,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC acquired a new stake in shares of The Korea Fund during the first quarter worth $2,041,000. Mraz Amerine & Associates Inc. increased its position in The Korea Fund by 169.9% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 36,025 shares of the company’s stock worth $869,000 after buying an additional 22,675 shares during the period. JBF Capital Inc. grew its position in The Korea Fund by 16.4% in the 2nd quarter. JBF Capital Inc. now owns 142,000 shares of the company’s stock worth $3,426,000 after purchasing an additional 20,000 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of The Korea Fund in the 2nd quarter worth approximately $437,000. Finally, 1607 Capital Partners LLC increased its holdings in The Korea Fund by 1.2% in the 4th quarter. 1607 Capital Partners LLC now owns 451,816 shares of the company’s stock valued at $10,572,000 after buying an additional 5,316 shares during the period. 69.99% of the stock is owned by institutional investors.

The Korea Fund Stock Performance

The Korea Fund stock opened at $23.65 on Monday. The Korea Fund, Inc. has a one year low of $18.30 and a one year high of $26.30. The business has a 50 day simple moving average of $24.69 and a 200 day simple moving average of $24.39.

About The Korea Fund

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.