City of London Investment Management Co. Ltd. Has $84.19 Million Stake in Korea Fund, Inc. (KF)

City of London Investment Management Co. Ltd. trimmed its position in Korea Fund, Inc. (NYSE:KF) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,062,316 shares of the company’s stock after selling 9,183 shares during the period. Korea Fund makes up approximately 5.8% of City of London Investment Management Co. Ltd.’s investment portfolio, making the stock its 5th largest holding. City of London Investment Management Co. Ltd. owned 35.80% of Korea Fund worth $84,194,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Doliver Capital Advisors LP acquired a new stake in shares of Korea Fund in the fourth quarter valued at about $230,000. Allianz Asset Management GmbH increased its position in shares of Korea Fund by 200.0% in the fourth quarter. Allianz Asset Management GmbH now owns 15,767 shares of the company’s stock valued at $651,000 after acquiring an additional 10,511 shares during the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in shares of Korea Fund in the fourth quarter valued at about $277,000. Institutional investors own 50.73% of the company’s stock.

NYSE:KF opened at $40.50 on Friday. The stock has a market capitalization of $232.65 million, a P/E ratio of 310.77 and a beta of 0.74. Korea Fund, Inc. has a 52-week low of $38.03 and a 52-week high of $44.64.

In related news, major shareholder City Of London Investment Grou sold 2,877 shares of Korea Fund stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $41.99, for a total value of $120,805.23. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders purchased 18,393 shares of company stock worth $746,775 and sold 69,093 shares worth $2,850,685. 59.52% of the stock is currently owned by insiders.

Korea Fund Profile

The Korea Fund, Inc is a closed-end non-diversified management investment company. The Fund’s investment objective is to seek long-term capital appreciation through investment in securities, principally equity securities of Korean companies. The Fund enters into contracts that contain a range of representations that provide general indemnifications.

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Institutional Ownership by Quarter for Korea Fund (NYSE:KF)

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