Mexico Fund, Inc. (The) (NYSE:MXF) Short Interest Down 41.0% in February

Key Points

• Short interest fell 41% in February, dropping to 13,164 shares (about 0.1% of shares) and a short-interest ratio of 0.1 days based on average daily volume.
• Insider activity was mixed: Director Richard B. Vaughan sold 2,500 shares on Feb. 23 while major shareholder Saba Capital bought 4,480 shares on Mar. 5; insiders have net acquired 89,965 shares over the past 90 days and now own 2.69% of the stock.
• The fund declared a $0.35 quarterly dividend (ex-dividend/record date Apr. 22), implying a $1.40 annualized payout and roughly a 7.0% yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 13,164 shares, a decrease of 41.0% from the February 12th total of 22,307 shares. Based on an average daily trading volume, of 117,566 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are short sold. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 117,566 shares, the short-interest ratio is currently 0.1 days.

Insider Buying and Selling

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 transaction of $55,850.00. Following the completion of the sale, the director owned 6,000 shares in the company, valued at approximately $134,040. This trade represents a 29.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Saba Capital Management, L.P. acquired 4,480 shares of the company's stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $21.34 per share, with a total value of $95,603.20. Following the acquisition, the insider directly owned 1,735,101 shares in the company, valued at approximately $37,027,055.34. The trade was a 0.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 89,965 shares of company stock valued at $1,907,762. 2.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. City of London Investment Management Co. Ltd. grew its holdings in shares of 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 valued at $63,406,000 after buying an additional 305,864 shares during the last quarter. North Ground Capital purchased a new position in shares of Mexico Fund during the third quarter worth $608,000. SFI Advisors LLC boosted its holdings in Mexico Fund by 4.6% in the second quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company's stock valued at $2,423,000 after purchasing an additional 6,121 shares during the last quarter. Quantedge Capital Pte Ltd grew 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, Calamos Advisors LLC raised its stake in shares of Mexico Fund by 21.7% during the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock valued at $280,000 after buying an additional 2,535 shares during the last quarter.

Mexico Fund Trading Down 1.1%

Shares of MXF traded down $0.22 during midday trading on Friday, hitting $20.14. The stock had a trading volume of 60,842 shares, compared to its average volume of 96,218. Mexico Fund has a 1 year low of $13.10 and a 1 year high of $23.00. The stock's 50 day moving average is $21.64 and its 200 day moving average is $20.10.

Mexico Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 7.0%.

About Mexico Fund

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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