Mexico Fund, Inc. (The) (NYSE:MXF) Short Interest Update
by Kim Johansen · The Markets DailyMexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 33,593 shares, an increase of 108.7% from the May 31st total of 16,098 shares. Based on an average daily volume of 46,225 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are sold short.
Insider Activity
In other Mexico Fund news, major shareholder Saba Capital Management, L.P. purchased 5,100 shares of the stock in a transaction dated Wednesday, June 24th. The shares were acquired at an average price of $21.31 per share, for a total transaction of $108,681.00. Following the completion of the acquisition, the insider owned 2,260,134 shares of the company’s stock, valued at $48,163,455.54. This represents a 0.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 495,802 shares of company stock worth $10,851,255 in the last quarter. 2.69% of the stock is owned by insiders.
Hedge Funds Weigh In On Mexico Fund
A number of hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of 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. Blue Bell Private Wealth Management LLC increased its stake in Mexico Fund by 109.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after acquiring an additional 2,735 shares during the period. Alpine Global Management LLC acquired a new position in Mexico Fund in the third quarter worth about $265,000. Calamos Advisors LLC raised its position in Mexico Fund by 32.1% in the fourth quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock worth $378,000 after purchasing an additional 4,563 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake 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 purchasing an additional 14,241 shares during the period.
Mexico Fund Price Performance
Shares of NYSE MXF traded down $0.18 during trading hours on Wednesday, hitting $21.69. 19,628 shares of the stock were exchanged, compared to its average volume of 61,852. The company’s 50 day moving average is $21.77 and its 200 day moving average is $21.42. Mexico Fund has a one year low of $16.57 and a one year high of $23.00.
Mexico Fund Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Wednesday, July 22nd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Wednesday, July 22nd.
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.