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

Mexico Fund, Inc. (The) (NYSE:MXF) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 22,307 shares, a growth of 498.0% from the January 29th total of 3,730 shares. Based on an average daily volume of 84,104 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are short sold. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 84,104 shares, the days-to-cover ratio is currently 0.3 days.

Insiders Place Their Bets

In other Mexico Fund news, major shareholder Saba Capital Management, L.P. purchased 32,126 shares of Mexico Fund stock in a transaction that occurred on Friday, February 13th. The stock was acquired at an average price of $22.69 per share, with a total value of $728,938.94. Following the transaction, the insider owned 1,730,621 shares in the company, valued at $39,267,790.49. This trade represents a 1.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard B. Vaughan sold 2,500 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $22.34, for a total transaction of $55,850.00. Following the transaction, the director owned 6,000 shares in the company, valued at approximately $134,040. The trade was a 29.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 130,854 shares of company stock worth $2,704,629. 2.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mexico Fund

Hedge funds have recently bought and sold shares of the company. City of London Investment Management Co. Ltd. boosted its holdings in Mexico Fund by 9.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company’s stock worth $63,406,000 after purchasing an additional 305,864 shares during the last quarter. North Ground Capital purchased a new position in shares of Mexico Fund in the 3rd quarter worth approximately $608,000. SFI Advisors LLC boosted its stake in shares of Mexico Fund by 4.6% in the 2nd quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company’s stock worth $2,423,000 after buying an additional 6,121 shares during the last quarter. Altium Capital Management LLC bought a new position in shares of Mexico Fund in the fourth quarter valued at approximately $972,000. Finally, Calamos Advisors LLC increased its position in shares of Mexico Fund by 32.1% during the fourth quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after acquiring an additional 4,563 shares during the last quarter.

Mexico Fund Price Performance

MXF stock traded up $0.03 during mid-day trading on Wednesday, reaching $22.58. 233,597 shares of the company traded hands, compared to its average volume of 85,867. The firm’s 50 day moving average price is $21.39 and its 200 day moving average price is $19.83. Mexico Fund has a fifty-two week low of $13.10 and a fifty-two week high of $22.99.

Mexico Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, January 21st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.2%. This is an increase from Mexico Fund’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 21st.

Mexico Fund Company Profile

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.