Short Interest in Mexico Fund, Inc. (The) (NYSE:MXF) Drops By 65.1%
by Teresa Graham · The Cerbat GemMexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 2,840 shares, a decline of 65.1% from the November 30th total of 8,145 shares. Based on an average trading volume of 56,478 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 56,478 shares, the short-interest ratio is presently 0.1 days.
Mexico Fund Stock Up 0.1%
Shares of Mexico Fund stock traded up $0.02 on Friday, hitting $20.66. The stock had a trading volume of 29,980 shares, compared to its average volume of 53,690. Mexico Fund has a 52-week low of $13.10 and a 52-week high of $20.79. The company’s 50 day moving average price is $19.47 and its 200 day moving average price is $18.57.
Mexico Fund Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Stockholders of record on Wednesday, January 21st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%. This is a boost from Mexico Fund’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, January 21st.
Insiders Place Their Bets
In other news, major shareholder Saba Capital Management, L.P. acquired 16,228 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were bought at an average price of $19.95 per share, with a total value of $323,748.60. Following the completion of the acquisition, the insider owned 1,691,300 shares in the company, valued at $33,741,435. This trade represents a 0.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 154,832 shares of company stock valued at $3,031,230 over the last three months. 2.69% of the stock is owned by insiders.
Institutional Trading of Mexico Fund
Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC grew its position in Mexico Fund by 92.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock worth $49,000 after purchasing an additional 1,200 shares during the last quarter. Scotia Capital Inc. purchased a new stake in shares of Mexico Fund in the second quarter valued at about $196,000. Alpine Global Management LLC acquired a new stake in shares of Mexico Fund during the third quarter worth about $265,000. Calamos Advisors LLC boosted its stake in shares of Mexico Fund by 21.7% during the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock worth $280,000 after buying an additional 2,535 shares during the period. Finally, North Ground Capital purchased a new position in shares of Mexico Fund during the third quarter worth about $608,000.
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.