Mexico Fund, Inc. (The) (NYSE:MXF) Short Interest Update

Mexico Fund, Inc. (The) (NYSE:MXF) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 22,307 shares, an increase of 498.0% from the January 29th total of 3,730 shares. Based on an average trading volume of 84,104 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 84,104 shares, the days-to-cover ratio is presently 0.3 days.

Mexico Fund Price Performance

Shares of MXF traded down $0.09 during midday trading on Thursday, hitting $22.54. The company had a trading volume of 89,052 shares, compared to its average volume of 77,316. The company’s 50 day moving average price is $21.39 and its 200 day moving average price is $19.83. Mexico Fund has a 52 week low of $13.10 and a 52 week high of $22.99.

Mexico Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Shareholders 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 boost from Mexico Fund’s previous quarterly dividend of $0.25.

Insider Activity

In related news, Director Richard B. Vaughan sold 2,500 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $22.34, for a total value of $55,850.00. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $134,040. This represents a 29.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Saba Capital Management, L.P. acquired 32,126 shares of the company’s stock in a transaction on Friday, February 13th. The shares were acquired at an average price of $22.69 per share, for a total transaction of $728,938.94. Following the completion of the acquisition, the insider directly owned 1,730,621 shares in the company, valued at $39,267,790.49. The trade was a 1.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 130,854 shares of company stock worth $2,704,629. Insiders own 2.69% of the company’s stock.

Institutional Investors Weigh In On Mexico Fund

A number of institutional investors have recently made changes to their positions in the company. Sit Investment Associates Inc. lifted its stake in Mexico Fund by 144.8% during the fourth quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company’s stock worth $1,000,000 after purchasing an additional 29,377 shares during the last quarter. Saba Capital Management L.P. lifted its position in shares of Mexico Fund by 32.4% in the 4th quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company’s stock worth $34,063,000 after buying an additional 413,606 shares during the last quarter. North Ground Capital boosted its holdings in shares of Mexico Fund by 309.2% in the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock valued at $2,544,000 after buying an additional 95,443 shares during the period. Marex Group plc acquired a new position in shares of Mexico Fund in the 4th quarter valued at about $1,926,000. Finally, Blue Bell Private Wealth Management LLC raised its stake 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 during the period.

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.