Lazard Asset Management LLC Sells 234,297 Shares of Mexico Fund, Inc. (The) $MXF

Lazard Asset Management LLC reduced its stake in shares of Mexico Fund, Inc. (The) (NYSE:MXF) by 24.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 717,886 shares of the investment management company’s stock after selling 234,297 shares during the quarter. Lazard Asset Management LLC’s holdings in Mexico Fund were worth $15,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Altium Capital Management LLC boosted its position in Mexico Fund by 165.5% in the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock valued at $2,683,000 after buying an additional 79,898 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Mexico Fund by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock valued at $20,548,000 after acquiring an additional 27,983 shares during the last quarter. Sit Investment Associates Inc. boosted its holdings in shares of Mexico Fund by 144.8% in the 4th quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company’s stock worth $1,000,000 after acquiring an additional 29,377 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Mexico Fund by 21.7% in the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock worth $1,960,000 after acquiring an additional 17,747 shares in the last quarter. Finally, Marex Group plc bought a new stake in Mexico Fund during the 4th quarter worth approximately $1,926,000.

Mexico Fund Stock Down 0.8%

MXF stock opened at $21.28 on Thursday. The business has a fifty day moving average price of $21.73 and a 200 day moving average price of $21.61. Mexico Fund, Inc. has a fifty-two week low of $17.41 and a fifty-two week high of $23.00.

Mexico Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Wednesday, July 22nd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%.

Insider Buying and Selling at Mexico Fund

In related news, major shareholder Saba Capital Management, L.P. bought 44,608 shares of Mexico Fund stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of $22.27 per share, for a total transaction of $993,420.16. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought 396,130 shares of company stock valued at $8,678,392 over the last ninety days. Insiders own 2.69% of the company’s stock.

About Mexico Fund

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.