Mexico Fund, Inc. (The) (NYSE:MXF) Sees Large Increase in Short Interest

Mexico Fund, Inc. (The) (NYSE:MXF) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 22,307 shares, an increase of 498.0% from the January 29th total of 3,730 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 84,104 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 84,104 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company’s shares are sold short.

Mexico Fund Price Performance

NYSE MXF traded up $0.03 during mid-day trading on Wednesday, reaching $22.58. 233,597 shares of the stock were exchanged, compared to its average volume of 85,867. Mexico Fund has a one year low of $13.10 and a one year high of $22.99. The stock has a 50 day simple moving average of $21.39 and a 200-day simple moving average of $19.83.

Mexico Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Wednesday, January 21st were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.2%. This is a positive change from Mexico Fund’s previous quarterly dividend of $0.25.

Insider Buying and Selling

In other news, Director Richard B. Vaughan sold 2,500 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $22.34, for a total transaction of $55,850.00. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $134,040. This trade represents a 29.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Saba Capital Management, L.P. acquired 32,126 shares of Mexico Fund stock in a transaction that occurred on Friday, February 13th. The stock was acquired at an average cost of $22.69 per share, for a total transaction of $728,938.94. Following the purchase, the insider owned 1,730,621 shares of the company’s stock, valued at $39,267,790.49. The trade was a 1.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 130,854 shares of company stock valued at $2,704,629. 2.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mexico Fund

Several large investors have recently added to or reduced their stakes in MXF. Farther Finance Advisors LLC boosted its holdings 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 worth $27,000 after buying an additional 1,194 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its stake in shares of Mexico Fund by 92.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock valued at $49,000 after acquiring an additional 1,200 shares in the last quarter. Scotia Capital Inc. acquired a new position in shares of Mexico Fund during the 2nd quarter valued at $196,000. Alpine Global Management LLC bought a new position in Mexico Fund during the third quarter worth $265,000. Finally, Calamos Advisors LLC grew its holdings in Mexico Fund by 21.7% in the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock worth $280,000 after purchasing an additional 2,535 shares during the period.

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.