Key Points
- Director Richard Vaughan sold 2,500 shares of Mexico Fund on Feb. 23 at an average price of $22.34 for $55,850, leaving him with 6,000 shares — a 29.41% reduction in his position.
- Mexico Fund raised its quarterly dividend to $0.35 (from $0.25), an annualized $1.40 representing a 6.2% yield; the dividend was paid Jan. 29 with record/ex-dividend dates on Jan. 21.
- Institutional investors increased stakes, notably City of London Investment Management to 3.61M shares (up 9.3%) and Saba Capital to 1.69M shares (up 32.4%), signaling meaningful institutional inflows.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) Director Richard Vaughan sold 2,500 shares of Mexico Fund stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $22.34, for a total transaction of $55,850.00. Following the completion of the transaction, the director owned 6,000 shares in the company, valued at approximately $134,040. This trade represents a 29.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Mexico Fund Price Performance
MXF stock opened at $22.61 on Wednesday. The stock has a 50-day moving average price of $21.33 and a two-hundred day moving average price of $19.81. Mexico Fund, Inc. has a 12-month low of $13.10 and a 12-month high of $22.99.
Mexico Fund Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, January 21st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Wednesday, January 21st. This is an increase from Mexico Fund's previous quarterly dividend of $0.25.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. City of London Investment Management Co. Ltd. grew its stake in Mexico Fund by 9.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company's stock worth $63,406,000 after buying an additional 305,864 shares during the period. Saba Capital Management L.P. raised its stake 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 valued at $34,063,000 after acquiring an additional 413,606 shares during the period. SFI Advisors LLC lifted its holdings in shares of Mexico Fund by 4.6% during the 2nd quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company's stock valued at $2,423,000 after acquiring an additional 6,121 shares in the last quarter. Quantedge Capital Pte Ltd boosted its position in Mexico Fund by 3.7% during the 2nd quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company's stock worth $2,286,000 after purchasing an additional 4,650 shares during the period. Finally, North Ground Capital boosted its position in Mexico Fund by 309.2% during the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company's stock worth $2,544,000 after purchasing an additional 95,443 shares during the period.
About Mexico Fund
(
Get Free Report)
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.
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