Mexico Fund (NYSE:MXF) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Mexico Fund, Inc. (The) (NYSE:MXF) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.67 and traded as low as $21.30. Mexico Fund shares last traded at $21.40, with a volume of 50,351 shares changing hands.

Mexico Fund Trading Up 0.3%

The firm’s 50-day moving average price is $21.67 and its 200 day moving average price is $21.67.

Mexico Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Wednesday, July 22nd were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 6.5%.

Insider Transactions at Mexico Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 44,608 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average cost of $22.27 per share, with a total value of $993,420.16. Following the acquisition, the insider owned 2,065,923 shares of the company’s stock, valued at approximately $46,008,105.21. This trade represents a 2.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 339,762 shares of company stock worth $7,436,670. 2.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MXF. Scotia Capital Inc. grew its holdings in Mexico Fund by 127.8% during the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after buying an additional 14,241 shares in the last quarter. Verition Fund Management LLC lifted its stake 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 acquiring an additional 17,747 shares in the last quarter. Farther Finance Advisors LLC lifted its stake 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 acquiring an additional 1,194 shares in the last quarter. Calamos Advisors LLC boosted its holdings in Mexico Fund by 32.1% during the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock worth $378,000 after acquiring an additional 4,563 shares during the last quarter. Finally, Altium Capital Management LLC purchased a new position in Mexico Fund during the 4th quarter worth $972,000.

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.