Mexico Fund (NYSE:MXF) Shares Pass Below 200 Day Moving Average - What's Next?

Key Points

• Mexico Fund shares fell below their 200-day moving average of $21.62, trading as low as $21.49 before closing near $21.607, down 0.4%.
• The fund paid a quarterly dividend of $0.35 per share, equivalent to a $1.40 annualized payout and a 6.5% dividend yield.
• Insider buying continued, with insiders purchasing 111,655 shares worth about $2.43 million over the past 90 days; major shareholder Saba Capital also increased its stake.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.62 and traded as low as $21.49. Mexico Fund shares last traded at $21.6070, with a volume of 12,435 shares.

Mexico Fund Stock Down 0.4%

The company's 50 day moving average price is $21.65 and its 200-day moving average price is $21.62.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Wednesday, July 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.5%.

Insider Buying and Selling

In other Mexico Fund news, major shareholder Saba Capital Management, L.P. acquired 2,952 shares of the business's stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $21.41 per share, with a total value of $63,202.32. Following the completion of the transaction, the insider owned 2,303,716 shares in the company, valued at approximately $49,322,559.56. This trade represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired 111,655 shares of company stock worth $2,433,687 in the last 90 days. Company insiders own 2.69% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXF. Farther Finance Advisors LLC lifted its position in shares of Mexico Fund by 775.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock valued at $27,000 after buying an additional 1,194 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Mexico Fund in the 2nd quarter valued at $33,000. Blue Bell Private Wealth Management LLC grew its position in Mexico Fund by 109.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company's stock worth $105,000 after buying an additional 2,735 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of Mexico Fund during the second quarter worth about $215,000. Finally, Evolve Private Wealth LLC bought a new position in shares of Mexico Fund in the 2nd quarter worth $278,000.

Mexico Fund Company Profile

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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