Trading was heavy with 9,706 shares changing hands by the end of trading on Friday. Volume was up 34.19% over the stocks average daily volume.
There has been some buying insider activity on Mexico Equity and Income Fund, (NYSE:MXE) recently. Director Phillip Goldstein acquired 3,000 shares at an average price of $10.97 on June 2nd. Goldstein now owns $121,767 of stock as reported to the SEC. Phillip Goldstein, Director acquired $1,105 worth of shares at an average price of $11.05 on Wed the 3rd. The Director now owns $89,505 of the stock as recorded in a recent Form 4 SEC filing.
These funds have also shifted positions in (MXE). Morgan Stanley added to its holdings by buying 22,303 shares an increase of 440.9% as of 03/31/2017. Morgan Stanley currently owns 27,361 shares with a value of $297,000. The value of the position overall is up by 545.7%. 1607 Capital Partners, LLC downsized its ownership by selling 6,401 shares a decrease of 1.9%. 1607 Capital Partners, LLC owns 329,826 shares valued at $3,581,000. The total value of its holdings increased 16.2%.
As of quarter end Thomas J. Herzfeld Advisors, Inc. had acquired a total of 10,000 shares growing its holdings by 39.8%. The value of the investment in MXE increased from $230,000 to $381,000 a change of 65.7% since the last quarter. Wolverine Asset Management LLC divested its position by shedding 9,417 shares a decrease of 26.1% in the quarter. Wolverine Asset Management LLC controls 26,650 shares worth $289,000. The value of the position overall is down by 22.5%.
In the market the company is trading up from yesterday’s close of $11.855. Shares are trading at $12.07 a bit higher than $11.16, the stock’s 50 day moving average and which is slightly above the 200 day moving average of $10.26. The 50 day moving average was up $0.91 and the 200 day average moved up $1.81.
The Mexico Equity and Income Fund, Inc. (the Fund), launched on May 24, 1990, is a closed-end, non-diversified management investment company. The Fund?s portfolio of investments includes infrastructure, media, mining, real estate development, retailing, airlines, cement, communications, industrial conglomerates, housing, and food, beverage, and tobacco..