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

Mexico Equity & Income Fund Inc. (NYSE:MXE)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.05 and traded as low as $8.04. Mexico Equity & Income Fund shares last traded at $8.18, with a volume of 1,228 shares traded.

Mexico Equity & Income Fund Stock Performance

The firm’s 50 day moving average price is $8.53 and its 200 day moving average price is $9.04.

Mexico Equity & Income Fund Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.2981 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a yield of 3.5%.

Hedge Funds Weigh In On Mexico Equity & Income Fund

A hedge fund recently raised its stake in Mexico Equity & Income Fund stock. Wolverine Asset Management LLC raised its position in shares of Mexico Equity & Income Fund Inc. (NYSE:MXE) by 117.7% during the 2nd 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 acquiring an additional 11,149 shares during the quarter. Wolverine Asset Management LLC’s holdings in Mexico Equity & Income Fund were worth $198,000 at the end of the most recent quarter.

About Mexico Equity & Income Fund

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.