Mexico Fund (NYSE:MXF) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Mexico Fund, Inc. (The) (NYSE:MXF) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.62 and traded as low as $21.49. Mexico Fund shares last traded at $21.6070, with a volume of 12,435 shares.

Mexico Fund Stock Performance

The stock has a fifty day simple moving average of $21.65 and a 200-day simple moving average of $21.62.

Mexico Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd were issued 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 dividend yield of 6.5%.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 29,500 shares of Mexico Fund stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $22.30 per share, with a total value of $657,850.00. Following the transaction, the insider directly owned 2,234,685 shares in the company, valued at $49,833,475.50. The trade was a 1.34% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 111,655 shares of company stock worth $2,433,687. Corporate insiders own 2.69% of the company’s stock.

Hedge Funds Weigh In On Mexico Fund

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in shares of Mexico Fund by 775.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after buying an additional 1,194 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Mexico Fund during the second quarter worth $33,000. Blue Bell Private Wealth Management LLC raised its position in Mexico Fund by 109.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock worth $105,000 after acquiring an additional 2,735 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Mexico Fund during the second quarter worth $215,000. Finally, Evolve Private Wealth LLC acquired a new stake in Mexico Fund in the second quarter valued at $278,000.

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.