Mexico Fund, Inc. (The) (NYSE:MXF) Sees Large Growth in Short Interest

Mexico Fund, Inc. (The) (NYSE:MXF) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 33,593 shares, a growth of 108.7% from the May 31st total of 16,098 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 46,225 shares, the short-interest ratio is currently 0.7 days.

Insiders Place Their Bets

In other Mexico Fund news, major shareholder Saba Capital Management, L.P. purchased 5,100 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was acquired at an average cost of $21.31 per share, for a total transaction of $108,681.00. Following the completion of the transaction, the insider directly owned 2,260,134 shares in the company, valued at approximately $48,163,455.54. This represents a 0.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have acquired 495,802 shares of company stock valued at $10,851,255 over the last ninety days. Insiders own 2.69% of the company’s stock.

Institutional Trading of Mexico Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Scotia Capital Inc. grew its holdings in shares of Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after purchasing an additional 14,241 shares during the last quarter. Verition Fund Management LLC raised its holdings in Mexico Fund by 21.7% during the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after buying an additional 17,747 shares during the last quarter. Alpine Global Management LLC bought a new stake in Mexico Fund during the 3rd quarter valued at $265,000. Uhlmann Price Securities LLC raised its holdings in Mexico Fund by 1.0% during the 4th quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock valued at $2,118,000 after buying an additional 1,074 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Mexico Fund by 775.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after buying an additional 1,194 shares during the period.

Mexico Fund Trading Down 0.5%

Shares of NYSE MXF traded down $0.10 during midday trading on Tuesday, reaching $21.77. The company had a trading volume of 40,642 shares, compared to its average volume of 61,574. Mexico Fund has a one year low of $16.57 and a one year high of $23.00. The firm’s fifty day moving average price is $21.77 and its 200-day moving average price is $21.41.

Mexico Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Wednesday, July 22nd will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Wednesday, July 22nd.

About Mexico Fund

The Mexico Fund, Inc (NYSE: MXF) is a closed-end management investment company that seeks long-term capital appreciation through exposure to Mexican securities. The fund primarily invests in equity instruments of companies organized or principally operating in Mexico, spanning a range of sectors such as financial services, consumer goods, industrials and energy. It may also allocate portions of its portfolio to fixed-income securities, including government and corporate bonds, when attractive opportunities arise.

Launched in 1991 and incorporated under Maryland law, The Mexico Fund offers U.S.