Mexico Fund (NYSE:MXF) Share Price Passes Above Fifty Day Moving Average – What’s Next?

Mexico Fund, Inc. (The) (NYSE:MXF)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $20.72 and traded as high as $22.87. Mexico Fund shares last traded at $22.6890, with a volume of 35,336 shares traded.

Mexico Fund Price Performance

The stock’s 50-day simple moving average is $20.72 and its 200 day simple moving average is $19.43.

Mexico Fund Increases Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $1.40 dividend on an annualized basis and a yield of 6.2%. This is a positive change from Mexico Fund’s previous quarterly dividend of $0.25.

Insider Transactions at Mexico Fund

In other Mexico Fund news, major shareholder Saba Capital Management, L.P. bought 47,273 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were bought at an average price of $19.15 per share, for a total transaction of $905,277.95. Following the completion of the acquisition, the insider owned 1,597,698 shares of the company’s stock, valued at approximately $30,595,916.70. This trade represents a 3.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders acquired 161,521 shares of company stock valued at $3,175,180. Insiders own 2.69% of the company’s stock.

Institutional Investors Weigh In On Mexico Fund

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of Mexico Fund by 775.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock worth $27,000 after acquiring an additional 1,194 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in shares of Mexico Fund by 92.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock valued at $49,000 after purchasing an additional 1,200 shares in the last quarter. Scotia Capital Inc. bought a new position in Mexico Fund in the 2nd quarter worth approximately $196,000. Alpine Global Management LLC acquired a new position in Mexico Fund during the 3rd quarter worth $265,000. Finally, Calamos Advisors LLC boosted its position in Mexico Fund by 21.7% in the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock valued at $280,000 after buying an additional 2,535 shares during the last quarter.

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.