Mexico Fund (NYSE:MXF) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Mexico Fund, Inc. (The) (NYSE:MXF) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $20.72 and traded as high as $20.82. Mexico Fund shares last traded at $20.7640, with a volume of 48,554 shares changing hands.

Mexico Fund Stock Performance

The stock has a 50 day simple moving average of $20.72 and a 200 day simple moving average of $21.42.

Mexico Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st were issued a $0.35 dividend. The ex-dividend date was Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.7%.

Insiders Place Their Bets

In other Mexico Fund news, major shareholder Saba Capital Management, L.P. purchased 25,900 shares of the stock in a transaction on Monday, October 5th. The stock was bought at an average price of $20.09 per share, for a total transaction of $520,331.00. Following the acquisition, the insider directly owned 2,393,834 shares of the company’s stock, valued at $48,092,125.06. This represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 94,587 shares of company stock valued at $1,939,990 over the last quarter. 2.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mexico Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC increased its position in Mexico Fund by 13.2% during the third quarter. Beverly Hills Private Wealth LLC now owns 41,537 shares of the investment management company’s stock worth $847,000 after buying an additional 4,855 shares during the last quarter. Uhlmann Price Securities LLC increased its position in shares of Mexico Fund by 2.3% during the 3rd quarter. Uhlmann Price Securities LLC now owns 113,006 shares of the investment management company’s stock valued at $2,304,000 after purchasing an additional 2,544 shares during the last quarter. Calamos Advisors LLC increased its position in shares of Mexico Fund by 6.7% during the third quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company’s stock valued at $343,000 after buying an additional 1,050 shares during the period. City of London Investment Management Co. Ltd. lifted its stake in Mexico Fund by 0.6% during the 3rd quarter. City of London Investment Management Co. Ltd. now owns 3,230,491 shares of the investment management company’s stock valued at $65,870,000 after acquiring an additional 19,166 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its stake in shares of Mexico Fund by 25.8% in the third quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company’s stock worth $774,000 after acquiring an additional 7,774 shares during the period.

Mexico Fund Company Profile

The Mexico Fund, Inc (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico.

The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.