Mexico Fund (NYSE:MXF) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Mexico Fund, Inc. (The) (NYSE:MXF)’s share price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $20.72 and traded as high as $20.82. Mexico Fund shares last traded at $20.7640, with a volume of 48,554 shares traded.

Mexico Fund Stock Up 1.1%

The stock’s 50 day moving average is $20.72 and its 200 day moving average is $21.42.

Mexico Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Wednesday, October 21st.

Insider Activity at Mexico Fund

In other Mexico Fund news, major shareholder Saba Capital Management, L.P. purchased 25,900 shares of the stock in a transaction dated Monday, October 5th. The shares were acquired at an average cost of $20.09 per share, for a total transaction of $520,331.00. Following the completion of the transaction, the insider directly owned 2,393,834 shares of the company’s stock, valued at $48,092,125.06. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased 94,587 shares of company stock valued at $1,939,990 in the last quarter. 2.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mexico Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Calamos Advisors LLC increased its stake in shares of Mexico Fund by 6.7% during the 3rd quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company’s stock valued at $343,000 after acquiring an additional 1,050 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mexico Fund in the second quarter worth approximately $33,000. Uhlmann Price Securities LLC boosted its position in shares of Mexico Fund by 2.3% in the third quarter. Uhlmann Price Securities LLC now owns 113,006 shares of the investment management company’s stock worth $2,304,000 after acquiring an additional 2,544 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its position in shares of Mexico Fund by 13.2% in the third quarter. Beverly Hills Private Wealth LLC now owns 41,537 shares of the investment management company’s stock worth $847,000 after acquiring an additional 4,855 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its holdings in Mexico Fund by 25.8% in the third quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company’s stock valued at $774,000 after purchasing an additional 7,774 shares during the period.

About Mexico Fund

The Mexico Fund, Inc (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico.

The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.