Shares of Legg Mason Inc (NYSE:LM) ended Friday session in green amid volatile trading. The shares closed up +0.73 points or 2.14% at $34.78 with 945,561 shares getting traded. Post opening the session at $34.25, the shares hit an intraday low of $34.18 and an intraday high of $34.84 and the price vacillated in this range throughout the day. The company has a market cap of $3.68 billion and the numbers of outstanding shares have been calculated to be 103.60 million shares.
Legg Mason Inc (LM) on Aug. 17, 2016 announced that it has completed the acquisition of an 82% interest in Financial Guard LLC, an online Registered Investment Advisor and innovative technology-enabled wealth management and investment advice platform. The firm will operate as part of Legg Mason’s alternative distribution strategies business, which focuses on combining technology with Legg Mason’s investment affiliates’ capabilities to better serve clients.
Shares of Korea Fund Inc. (NYSE:KF) ended Friday session in green amid volatile trading. The shares closed up +0.47 points or 1.37% at $34.77 with 6,519 shares getting traded. Post opening the session at $34.70, the shares hit an intraday low of $34.70 and an intraday high of $34.80 and the price vacillated in this range throughout the day. The company has a market cap of $253.34 million and the numbers of outstanding shares have been calculated to be 7.19 million shares.
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. Generally, the Fund enters into contracts that contain various representations that provide general indemnifications. The Fund directly invests in foreign currencies or in securities that trade in and receive revenues in, foreign currencies, or in derivatives that provide exposure to foreign currencies. The Fund invests at least 80% of its net assets in securities listed on the Korea Stock Exchange. The Fund also offers capital appreciation potential by focusing on Korea companies exhibiting solid long-term growth characteristics. The Fund also trades financial instruments and enters into financial transactions. The Fund’s investment manager is Allianz Global Investors U.S. LLC (AllianzGI U.S.).