Mexico Fund (NYSE:MXF) Stock Price Passes Above 50 Day Moving Average - Time to Sell?

Key Points

• The Mexico Fund (NYSE:MXF) stock price recently surpassed its 50-day moving average of $18.66, reaching a high of $19.10 before closing at $18.90.
• A quarterly dividend of $0.25 is set to be paid on October 30th, 2023, offering a yield of approximately 5.3% based on an annualized payout.
• Several institutional investors, including Matisse Capital and SFI Advisors LLC, significantly increased their stakes in Mexico Fund during the first quarter of 2023.

Mexico Fund, Inc. (The) (NYSE:MXF - ) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $18.66 and traded as high as $19.10. Mexico Fund shares last traded at $18.90, with a volume of 70,407 shares.

Mexico Fund Trading Up 1.0%

The stock has a fifty day simple moving average of $18.66 and a two-hundred day simple moving average of $17.14.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Wednesday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.3%.

Institutional Trading of Mexico Fund

Several hedge funds and other institutional investors have recently bought and sold shares of MXF. Matisse Capital lifted its position in Mexico Fund by 5.1% in the first quarter. Matisse Capital now owns 205,000 shares of the investment management company's stock valued at $2,917,000 after purchasing an additional 10,000 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in Mexico Fund in the first quarter valued at approximately $46,000. Wolverine Asset Management LLC increased its stake in shares of Mexico Fund by 62.1% during the first quarter. Wolverine Asset Management LLC now owns 236,078 shares of the investment management company's stock valued at $3,359,000 after buying an additional 90,483 shares during the period. SFI Advisors LLC increased its stake in shares of Mexico Fund by 342.4% during the first quarter. SFI Advisors LLC now owns 131,807 shares of the investment management company's stock valued at $1,876,000 after buying an additional 102,015 shares during the period. Finally, Landscape Capital Management L.L.C. increased its stake in shares of 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 valued at $1,050,000 after buying an additional 19,109 shares during the period.

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.

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