Mexico Fund (NYSE:MXF) Stock Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• The Mexico Fund (NYSE:MXF) stock price has surpassed its 50-day moving average of $17.11, trading as high as $17.42.
• The company announced a quarterly dividend increase to $0.25 per share, reflecting a 5.75% yield and a rise from the previous dividend of $0.22.
• Several institutional investors have recently increased their stakes in Mexico Fund, with notable purchases totaling approximately $4.4 million in the fourth quarter.

Shares of Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $17.11 and traded as high as $17.42. Mexico Fund shares last traded at $17.40, with a volume of 48,361 shares traded.

Mexico Fund Stock Performance

The firm has a 50 day moving average of $17.19 and a two-hundred day moving average of $15.48.

Mexico Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 30th. Stockholders of record on Tuesday, July 22nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, July 22nd. This is an increase 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 5.7%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Mexico Fund during the fourth quarter worth $651,000. RPO LLC acquired a new stake in Mexico Fund in the fourth quarter valued at $1,986,000. Rahlfs Capital LLC acquired a new stake in Mexico Fund in the fourth quarter valued at $276,000. Quantedge Capital Pte Ltd grew its holdings in Mexico Fund by 28.4% in the fourth quarter. Quantedge Capital Pte Ltd now owns 92,284 shares of the investment management company's stock valued at $1,218,000 after purchasing an additional 20,400 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Mexico Fund in the fourth quarter valued at $1,490,000.

About Mexico Fund

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.