Mexico Equity & Income Fund (NYSE:MXE) Stock Crosses Below 200-Day Moving Average – Here’s Why

Mexico Equity & Income Fund Inc. (NYSE:MXE)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.15 and traded as low as $8.60. Mexico Equity & Income Fund shares last traded at $8.62, with a volume of 3,896 shares traded.

Mexico Equity & Income Fund Price Performance

The business’s 50-day moving average price is $8.70 and its two-hundred day moving average price is $9.14.

Mexico Equity & Income Fund Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.2981 per share. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, December 23rd.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mexico Equity & Income Fund stock. Wolverine Asset Management LLC raised its holdings in Mexico Equity & Income Fund Inc. (NYSE:MXE) by 117.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,620 shares of the investment management company’s stock after purchasing an additional 11,149 shares during the quarter. Wolverine Asset Management LLC’s holdings in Mexico Equity & Income Fund were worth $198,000 as of its most recent SEC filing.

Mexico Equity & Income Fund Company Profile

Mexico Equity & Income Fund Inc is a closed ended balanced mutual fund launched and managed by Pichardo Asset Management, SA de C.V. The fund invests in the fixed income and public equity markets of Mexico. It also invests some portion in the convertible securities. The fund invests in the stocks of companies operating across diversified sectors.