Mexico Equity & Income Fund (NYSE:MXE) Share Price Crosses 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 Monday . The stock has a 200-day moving average of $9.76 and traded as low as $8.86. Mexico Equity & Income Fund shares last traded at $8.91, with a volume of 1,901 shares.

Mexico Equity & Income Fund Price Performance

The business has a 50 day moving average price of $9.04 and a 200 day moving average price of $9.76.

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 Mexico Equity & Income Fund Inc. (NYSE:MXE) by 117.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,620 shares of the investment management company’s stock after acquiring an additional 11,149 shares during the period. Wolverine Asset Management LLC’s holdings in Mexico Equity & Income Fund were worth $198,000 as of its most recent SEC filing.

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.