Shaker Financial Services LLC Sells 2,489 Shares of The Korea Fund, Inc. (NYSE:KF)

Shaker Financial Services LLC reduced its holdings in The Korea Fund, Inc. (NYSE:KF) by 18.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,672 shares of the company’s stock after selling 2,489 shares during the quarter. Shaker Financial Services LLC’s holdings in The Korea Fund were worth $243,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. JBF Capital Inc. raised its stake in The Korea Fund by 16.4% in the second quarter. JBF Capital Inc. now owns 142,000 shares of the company’s stock worth $3,426,000 after buying an additional 20,000 shares in the last quarter. Mraz Amerine & Associates Inc. boosted its position in The Korea Fund by 36.6% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 49,210 shares of the company’s stock valued at $1,120,000 after acquiring an additional 13,185 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of The Korea Fund during the 2nd quarter worth approximately $437,000. 69.99% of the stock is owned by hedge funds and other institutional investors.

The Korea Fund Price Performance

Shares of NYSE:KF opened at $21.50 on Friday. The Korea Fund, Inc. has a 52-week low of $20.40 and a 52-week high of $26.30. The stock has a 50 day moving average price of $22.82 and a 200-day moving average price of $23.82.

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.