Mexico Fund (NYSE:MXF) Shares Pass Below 200-Day Moving Average – Should You Sell?

Mexico Fund, Inc. (The) (NYSE:MXF)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $21.56 and traded as low as $20.81. Mexico Fund shares last traded at $20.9850, with a volume of 51,331 shares.

Mexico Fund Price Performance

The company has a fifty day simple moving average of $21.59 and a 200-day simple moving average of $21.54.

Mexico Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 21st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Wednesday, October 21st.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. bought 6,403 shares of Mexico Fund stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of $20.63 per share, with a total value of $132,093.89. Following the completion of the acquisition, the insider directly owned 2,310,578 shares in the company, valued at approximately $47,667,224.14. This trade represents a 0.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 63,921 shares of company stock worth $1,376,141 over the last quarter. 2.69% of the stock is owned by insiders.

Institutional Trading of Mexico Fund

Several institutional investors and hedge funds have recently bought and sold shares of MXF. Saba Capital Management L.P. lifted its stake in Mexico Fund by 4.3% during the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock valued at $36,927,000 after buying an additional 73,032 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position 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 worth $20,548,000 after acquiring an additional 27,983 shares in the last quarter. Almitas Capital LLC purchased a new position in shares of Mexico Fund in the second quarter worth approximately $3,736,000. North Ground Capital acquired a new stake in shares of Mexico Fund during the second quarter valued at approximately $2,981,931. Finally, Altium Capital Management LLC raised its holdings in shares of Mexico Fund by 165.5% during 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 acquiring an additional 79,898 shares during the period.

Mexico Fund Company Profile

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico’s economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.