Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $21.49 and traded as low as $19.80. Mexico Fund shares last traded at $19.9660, with a volume of 128,935 shares changing hands.
Mexico Fund Trading Up 1.6%
The business’s 50-day moving average is $21.12 and its 200-day moving average is $21.49.
Mexico Fund Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a yield of 6.8%.
Insider Transactions at Mexico Fund
In related news, major shareholder Saba Capital Management, L.P. purchased 25,900 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was bought at an average price of $20.09 per share, with a total value of $520,331.00. Following the acquisition, the insider owned 2,393,834 shares in the company, valued at $48,092,125.06. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 125,502 shares of company stock valued at $2,612,839. 2.69% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Mexico Fund
Hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mexico Fund in the second quarter valued at $33,000. Uhlmann Price Securities LLC boosted its position in Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock worth $2,243,000 after purchasing an additional 2,013 shares during the period. Calamos Advisors LLC grew its position in Mexico Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock valued at $446,000 after acquiring an additional 2,535 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Mexico Fund during the 2nd quarter valued at $215,000. Finally, Evolve Private Wealth LLC purchased a new stake in Mexico Fund during the 2nd quarter worth approximately $278,000.
About Mexico Fund
The Mexico Fund, Inc (NYSE: MXF) is a non-diversified, closed-end investment company focused on providing long-term capital appreciation through investments in securities of Mexican companies. The fund primarily invests in publicly traded equities, although it may also hold other investments that provide exposure to Mexico’s economy and financial markets.
MXF offers investors a vehicle for gaining diversified exposure to Mexico across multiple industries and sectors. Its portfolio may include companies that operate in areas such as consumer goods, financial services, telecommunications, industrials, materials, and other segments of the Mexican economy.
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