Mexico Fund, Inc. (The) (NYSE:MXF) Sees Large Growth in Short Interest

Mexico Fund, Inc. (The) (NYSE:MXF) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 12,697 shares, an increase of 616.1% from the April 15th total of 1,773 shares. Based on an average daily volume of 81,131 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Mexico Fund Stock Performance

Mexico Fund stock opened at $21.87 on Thursday. The company has a 50-day moving average price of $21.24 and a 200 day moving average price of $20.81. Mexico Fund has a 12-month low of $15.98 and a 12-month high of $23.00.

Mexico Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.4%.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. bought 100,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was acquired at an average cost of $21.83 per share, with a total value of $2,183,000.00. Following the purchase, the insider directly owned 1,884,830 shares of the company’s stock, valued at $41,145,838.90. The trade was a 5.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased a total of 172,253 shares of company stock worth $3,759,460 in the last quarter. Company insiders own 2.69% of the company’s stock.

Institutional Trading of Mexico Fund

Several institutional investors have recently made changes to their positions in the company. North Ground Capital acquired a new stake in Mexico Fund during the third quarter worth $608,000. Calamos Advisors LLC lifted its stake in shares of Mexico Fund by 13.5% in the 1st quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock valued at $446,000 after purchasing an additional 2,535 shares during the last quarter. Altium Capital Management LLC grew its holdings in shares of Mexico Fund by 165.5% during the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after purchasing an additional 79,898 shares during the period. Uhlmann Price Securities LLC grew its holdings in shares of Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock worth $2,243,000 after purchasing an additional 2,013 shares during the period. Finally, Alpine Global Management LLC increased its position in shares of Mexico Fund by 356.7% during the 4th quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock worth $1,237,000 after purchasing an additional 47,979 shares during the last quarter.

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.