Mexico Fund (NYSE:MXF) Share Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• The Mexico Fund (NYSE:MXF) shares surpassed their 50-day moving average of $17.57, trading as high as $18.39 before closing at $18.22.
• The company announced an increased quarterly dividend of $0.25, up from the previous $0.22, equating to an annualized yield of 5.5%.
• Several large institutional investors, such as Quantedge Capital and City of London Investment Management, have recently boosted their holdings in the Mexico Fund during the second quarter.

Shares of Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $17.57 and traded as high as $18.39. Mexico Fund shares last traded at $18.22, with a volume of 11,101 shares traded.

Mexico Fund Stock Down 0.3%

The stock's 50-day moving average price is $17.68 and its 200 day moving average price is $16.13.

Mexico Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 30th. Stockholders of record on Tuesday, July 22nd were given a $0.25 dividend. This is a boost from Mexico Fund's previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Tuesday, July 22nd.

Institutional Trading of Mexico Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. bought a new stake in Mexico Fund during the first quarter worth $46,000. Scotia Capital Inc. bought a new stake in Mexico Fund during the second quarter worth $196,000. Raymond James Financial Inc. bought a new stake in Mexico Fund during the fourth quarter worth $651,000. Landscape Capital Management L.L.C. raised its position in Mexico Fund by 34.9% during the first quarter. Landscape Capital Management L.L.C. now owns 73,799 shares of the investment management company's stock worth $1,050,000 after acquiring an additional 19,109 shares in the last quarter. Finally, Logan Stone Capital LLC raised its position in Mexico Fund by 11.8% during the fourth quarter. Logan Stone Capital LLC now owns 81,317 shares of the investment management company's stock worth $1,073,000 after acquiring an additional 8,606 shares in the last quarter.

Mexico Fund Company Profile

The Mexico Fund, Inc is a closed-ended equity mutual fund launched and managed by Impulsora del Fondo México, S.C. It primarily invests in public equity markets of Mexico. The fund seeks to invest its portfolio across diversified sectors. The Mexico Fund, Inc was formed in June 01, 1981 and is domiciled in Maryland, United States.