Mexico Fund, Inc. (The) (NYSE:MXF) Short Interest Down 38.0% in August

Key Points

• Short interest fell 38% to 12,747 shares as of August 31, representing approximately 0.1% of Mexico Fund’s outstanding stock and a short-interest ratio of 0.4 days.
• Major shareholder Saba Capital Management acquired 2,952 shares at an average price of $21.41, while insiders bought 58,320 shares worth approximately $1.26 million over the past quarter.
• Mexico Fund shares recently traded at $21.03, and the company announced a quarterly dividend of $0.35 per share, implying an annualized yield of about 6.7%.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 12,747 shares, a drop of 38.0% from the August 15th total of 20,575 shares. Approximately 0.1% of the company's stock are short sold. Based on an average daily volume of 33,431 shares, the short-interest ratio is currently 0.4 days.

Insider Transactions at Mexico Fund

In other Mexico Fund news, major shareholder Saba Capital Management, L.P. acquired 2,952 shares of the company's stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $21.41 per share, for a total transaction of $63,202.32. Following the acquisition, the insider directly owned 2,303,716 shares of the company's stock, valued at $49,322,559.56. This trade represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have acquired 58,320 shares of company stock worth $1,262,441. Insiders own 2.69% of the company's stock.

Institutional Trading of Mexico Fund

Hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in Mexico Fund during the 2nd quarter valued at about $215,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Mexico Fund in the 2nd quarter worth approximately $2,266,000. Almitas Capital LLC bought a new position in shares of Mexico Fund in the second quarter valued at approximately $3,736,000. North Ground Capital bought a new position in shares of Mexico Fund in the second quarter valued at approximately $2,981,931. Finally, Hudson Portfolio Management LLC acquired a new position in shares of Mexico Fund during the second quarter valued at approximately $784,000.

Mexico Fund Stock Up 1.1%

Shares of NYSE:MXF traded up $0.22 on Wednesday, reaching $21.03. 1,143 shares of the company's stock were exchanged, compared to its average volume of 53,249. The business's 50-day moving average is $21.60 and its two-hundred day moving average is $21.56. Mexico Fund has a fifty-two week low of $18.30 and a fifty-two week high of $23.00.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st will be given a $0.35 dividend. The ex-dividend date is Wednesday, October 21st. This represents a $1.40 annualized dividend and a yield of 6.7%.

About Mexico Fund

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico's economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.

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