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Mexico Fund (NYSE:MXF) Stock, Option Chain

Mexico Fund

Mexico Fund Inc is a United States based non-diversified, closed-end management investment company. Its investment objective is to seek long-term capital appreciation. The fund seeks to achieve its objective through investment in securities, primary in equity, listed on the Mexican Stock Exchange. Its portfolio of investment consists of investment in different sectors such as auto parts, airports, building materials, chemical products, consumer products, energy, food and other sectors. The fund provides a vehicle to investors who wish to invest in Mexican companies through a managed non-diversified portfolio as part of their overall investment program.

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	Banxico’s survey of economists on May  2 has GDP falling to 2.26%, and inflation rising to 4.16%, meaning interest rate cuts likely on hold.


Cinco De &#34;Ut Oh&#34;: Mexico Investors Face &#34;Dead Money&#34; Scenario As Economy Slows, And Rate Cuts Less Likely

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Mexico Fund Inc

<ul>
<li>Banxico&rsquo;s <a href="https://www.fxstreet.com/news/mexican-peso-reaches-weekly-high-against-us-dollar-amid-unchanged-federal-reserve-policy-202405021648">survey</a> of economists on May&nbsp; 2 has GDP falling to 2.26%, and inflation rising to 4.16%, meaning interest rate cuts likely on hold.</li>
<li>&lsquo;De-Risking&rsquo; from China seen as a long-term positive for Mexico.</li>
</ul>
Mexico investors may be in for a volatile few weeks with the economy petering out even as inflation rises, casting serious doubts about interest rate cuts next week. Global investors who like the long-term view of Mexico may want to sit on the sidelines to see if the Mexican stock market tracks the macro trends of the country.
The iShares MSCI Mexico (ARCA: EWW) ETF is up 12.45% over the last six months, clobbering large Latin American rival, the iShares MSCI Brazil (ARCA: EWZ), which rose just 2.45%.&nbsp; But year-to-date shows the EWW ETF struggling, approaching zero percent growth since January.
Mexico has the third highest interest rate in Latin America at 11%, only Colombia (11.75%) and Argentina (50%) or worse. Banxico did cut rates on March 21 by 25 basis points, but the <a href="https://www.banxico.org.mx/monetary-policy/d/%7B0C35369C-BF8F-E5A8-7710-FD5A6716474F%7D.pdf">May 9 monetary policy committee</a> meeting is unlikely to cut rates now that inflation is rising again.
Banxico Deputy Governor Jonathan Heath <a href="https://www.msn.com/en-us/money/markets/mexico-likely-to-hit-pause-on-rate-cuts-in-may-heath-says/ar-AA1nm6R9">said</a> during the International Monetary Fund meetings in Washington DC in late April that he was &ldquo;leaning toward a pause in May.&rdquo; &nbsp;At the time of his comment, Mexico&rsquo;s 12-month rolling inflation as of mid-April was 4.63% versus 4.48% four weeks prior.
The Banxico survey, which was released on May 2, has inflation averaging 4.16% this year, the highest estimate in seven months. &nbsp;
&ldquo;I don&#39;t like Mexico right now. It&#39;s been dead money since December and I think we have reached the second stage of the slowdown in the U.S. And that&#39;s not good for Mexico,&quot; said Vladimir Signorelli, founder of Bretton Woods Research, a macro investment forecasting firm in New Jersey.
Investors in Latin America have been better off where the cost of capital is lowest. In this case, it&rsquo;s the iShares MSCI Peru (ARCA: EPU). Rates there are <a href="https://www.bcrp.gob.pe/en">6%.</a> The EPU ETF is outperforming Mexico and Brazil, up 40.8% in six months and 22% year-to-date. But that&#39;s a &quot;glorified mining play, anyway,&quot; said Signorelli.
Mexico&#39;s manufacturing index is showing signs of sluggishness now. It fell to 49.2 in April from the revised 51.7 in March, <a href="https://www.indicadorimef.org.mx/">according</a> to the Mexican Institute of Finance Executives IMEF. Anything under 50 signifies a slowdown.
The June 2 elections are unlikely to be turbulent. The hand-picked successor of current president Andres Manuel Lopez Obrador, aka AMLO, is the likely winner: Claudia Sheinbaum <a href="https://apnews.com/article/mexico-elections-2024-what-to-know-d104184b02bf5bcf9e08f570a5ba37e2">polls at around 59%</a> of the vote. She has the backing of AMLO&rsquo;s Morena party. Senator X&oacute;chitl G&aacute;lvez is in second with around 36%. &nbsp;
<h3>Mexico To Benefit&nbsp;From China &lsquo;De-Risking&rsquo;</h3>
Mexico is the big winner of the geopolitical strife between the U.S. and China.
China&rsquo;s exports to Mexico rose nearly 60% in January, according to global freight rate intelligence platform Xeneta.&nbsp;&ldquo;This is probably the strongest growing trade in the world right now,&rdquo; Xeneta chief analyst Peter Sand&nbsp;<a href="https://www.xeneta.com/blog/weekly-container-rate-update-l-week-11-24-intriguing-evolution-of-china-trades-into-mexico-and-us-west-coasts">wrote</a>&nbsp;on March 14.
Four hours from Laredo, Texas, in Nuevo Leon, Mexico,&nbsp;<a href="https://www.nytimes.com/2023/02/03/business/china-mexico-trade.html">nearly $7 billion</a>&nbsp;in investments have been made by American companies like&nbsp;<a href="https://www.gob.mx/sre/prensa/elon-musk-announces-plan-to-build-the-largest-tesla-plant-in-the-world-in-mexico?idiom=en">Tesla</a> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>). Chinese multinationals are building the&nbsp;<a href="http://hofusan.net/en/?mod=about">Hofusan Industrial Park</a> there.
And a recent study by Michigan CFO Associates showed U.S. businesses were curious about setting up shop in Mexico. The search term &ldquo;manufacturing in Mexico&rdquo; surged 250% between 2019 and April 2024.
This is a glimpse into the future.
The EWW ETF isn&rsquo;t cheap. It trades at 13.6x earnings and has a dividend yield of 2.15%. The Mexico Fund&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mxf#NYSE">MXF</a>) is a closed-end fund alternative that trades at 8.74x and has a dividend yield of 4.84%.
By comparison, the EWZ ETF trades at just 5.78x and has a dividend yield of 6.10%. Peru, meanwhile, is the most expensive at 13.8x and a 3.68% dividend yield.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Cinco De "Ut Oh": Mexico Investors Face "Dead Money" Scenario As Economy Slows, And Rate Cuts Less Likely

The Mexico Fund, Inc. (NYSE:&nbsp;MXF) announced that the Board of Directors (Board) increased the Fund´s quarterly distribution from $0.20 per share to $0.22 per share, representing an increase of 10.0% and a 5.0% annualized distribution rate relative to its market price as of November 30, 2023. Accordingly, the Board has ratified the continuation of the Fund´s MDP and declared a distribution of $0.22 per share to stockholders of record on January 17, 2024, which is payable in cash on January 25, 2024.
The Board has approved the continuation of the Fund's MDP during 2024. The Board may amend or terminate the MDP at any time without prior notice to stockholders. Since the implementation of the MDP in September 2008, the Fund has paid a total of $26.16 per share in cash distributions to stockholders.
The amount of distributable income for each fiscal period depends on the aggregate gains and losses realized by the Fund during the entire year. Distributions may consist of net investment income, capital gains and return of capital, but the character of these distributions cannot be determined until after the end of the Fund's fiscal year. However, under the Investment Company Act of 1940, the Fund is required to indicate the source of each distribution to stockholders. The following table sets forth (A) an estimate of the source of the January 2024 distribution and (B) an estimate of the source of distributions for the current fiscal year:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Distribution Estimates</td>
<td colspan="2" rowspan="1">January 2024</td>
<td colspan="2" rowspan="1">Fiscal Year-to-date ( YTD)1</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Source</td>
<td colspan="1" rowspan="1">Per Share Amount</td>
<td colspan="1" rowspan="1">Percent of Current Distribution</td>
<td colspan="1" rowspan="1">Per Share Amount</td>
<td colspan="1" rowspan="1">Percent of Fiscal Year Distributions</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Investment Income</td>
<td colspan="1" rowspan="1">$0.1250</td>
<td colspan="1" rowspan="1">56.81&nbsp;%</td>
<td colspan="1" rowspan="1">$0.1250</td>
<td colspan="1" rowspan="1">56.81&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Realized Short-Term Capital Gains</td>
<td colspan="1" rowspan="1">$0.0168</td>
<td colspan="1" rowspan="1">7.63&nbsp;%</td>
<td colspan="1" rowspan="1">$0.0168</td>
<td colspan="1" rowspan="1">7.63&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Realized Long-Term Capital Gains</td>
<td colspan="1" rowspan="1">$0.0672</td>
<td colspan="1" rowspan="1">30.53&nbsp;%</td>
<td colspan="1" rowspan="1">$0.0672</td>
<td colspan="1" rowspan="1">30.53&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Return of Capital</td>
<td colspan="1" rowspan="1">$0.0110</td>
<td colspan="1" rowspan="1">5.03&nbsp;%</td>
<td colspan="1" rowspan="1">$0.0110</td>
<td colspan="1" rowspan="1">5.03&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Distribution</td>
<td colspan="1" rowspan="1">$0.2200</td>
<td colspan="1" rowspan="1">100.00&nbsp;%</td>
<td colspan="1" rowspan="1">$0.2200</td>
<td colspan="1" rowspan="1">100.00&nbsp;%</td>
</tr>
</tbody>
</table>
</figure>
Information regarding the Fund's performance and distribution rates is set forth below:

Dividends

The Mexico Fund, Inc. Announces An Increase In Its Quarterly Distribution From $0.20 Per Share To $0.22 Per Share

Monday marks the last chance for investors to receive the next dividend payout from Mexico Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MXF#NYSE">MXF</a>). 
<h3>What's Happening</h3>
The company announced on Friday that it would pay shareholders a quarterly dividend of 18 cents per share. On Tuesday, Mexico Fund will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 18 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own MXF as of the end of Monday's session are eligible to receive the 18 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on October 27, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To stay up-to-date with the companies that are announcing their dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Mexico Fund's Ex-Dividend Date Is Tuesday, Here's What You Need To Know

&nbsp;
Wednesday&#39;s session saw 51 companies set new 52-week lows.
<h2>Intriguing Points From Today&#39;s 52-Week Lows:</h2>
<ul>
<li>Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) was the largest company by market cap to set a new 52-week low.</li>
<li>Benitec Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTC#NASDAQ">BNTC</a>) is the smallest company on a market cap basis to set a new 52-week low.</li>
<li>Alpha Cap Acq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPC#NASDAQ">ASPC</a>) saw the largest move of the companies, as shares plummetted 28.22% to hit a new 52-week low.</li>
<li>Mexico Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MXF#NYSE">MXF</a>) saw the biggest bounce back on, as shares traded up 0.24% to rebound after it hit its new 52-week low.</li>
</ul>
Here is a list of stocks that set new 52-week lows on Wednesday:
<ul>
<li>Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) stock hit a yearly low of $43.90. The stock was down 1.96% for the day.</li>
<li>Baxter Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) shares were down 1.5% for the day, having made a 52-week low of $57.77.</li>
<li>Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares were down 0.85% for the day, having made a 52-week low of $44.30.</li>
<li>Match Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) stock hit $59.15 on Wednesday morning, setting a new 52-week low for a change of down 16.84%.</li>
<li>Markel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKL#NYSE">MKL</a>) shares made a new 52-week low of $1,171.10 on Wednesday. The stock was down 4.62% for the day.</li>
<li>Stanley Black &amp; Decker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>) stock drifted down 1.26% on Wednesday morning to hit a new 52-week low of $91.88.</li>
<li>Nomura Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMR#NYSE">NMR</a>) shares were down 7.56% for the day, having made a 52-week low of $3.38.</li>
<li>Fresenius Medical Care (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMS#NYSE">FMS</a>) stock dropped to a yearly low on Wednesday of $18.16. Shares traded up 0.49%.</li>
<li>Everest Re Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RE#NYSE">RE</a>) shares set a new yearly low of $248.94 this morning. The stock was up 0.33% on the session.</li>
<li>Enstar Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESGR#NASDAQ">ESGR</a>) stock broke to a new 52-week low of $189.06 on Wednesday. Shares of the company traded down 1.57%.</li>
<li>Mercury Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) stock set a new 52-week low of $44.05 on Wednesday, moving down 13.17%.</li>
<li>NorthWestern (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWE#NASDAQ">NWE</a>) shares hit a yearly low of $53.42. The stock was down 0.5% on the session.</li>
<li>Mercury General (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>) shares were down 9.81% for the day, having made a 52-week low of $34.76.</li>
<li>SolarWinds (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWI#NYSE">SWI</a>) stock hit $9.33 on Wednesday morning, setting a new 52-week low for a change of up 1.71%.</li>
<li>Byline Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BY#NYSE">BY</a>) stock broke to a new 52-week low of $22.76 on Wednesday. Shares of the company traded down 0.35%.</li>
<li>Conduent (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNDT#NASDAQ">CNDT</a>) stock hit $3.71 on Wednesday morning, setting a new 52-week low for a change of down 16.74%.</li>
<li>Eventbrite (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EB#NYSE">EB</a>) shares hit a yearly low of $8.09. The stock was up 2.33% on the session.</li>
<li>Forge Global Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRGE#NYSE">FRGE</a>) shares reached a new 52-week low of $4.53 on Wednesday morning, moving down 2.35%.</li>
<li>Enhabit (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EHAB#NYSE">EHAB</a>) stock achieved a new 52-week low on Wednesday morning, hitting $13.76 and moving down 5.0%.</li>
<li>Great Lakes Dredge &amp; Dock (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLDD#NASDAQ">GLDD</a>) stock hit $9.51 on Wednesday morning, setting a new 52-week low for a change of down 2.55%.</li>
<li>Nuvation Bio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUVB#NYSE">NUVB</a>) stock hit $2.25 on Wednesday morning, setting a new 52-week low for a change of up 2.84%.</li>
<li>Founder (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOUN#NASDAQ">FOUN</a>) stock hit $8.78 on Wednesday morning, setting a new 52-week low for a change of down 7.52%.</li>
<li>LL Flooring Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LL#NYSE">LL</a>) shares were down 4.34% for the day, having made a 52-week low of $8.65.</li>
<li>Glatfelter (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLT#NYSE">GLT</a>) shares reached a new 52-week low of $5.62 on Wednesday morning, moving down 3.77%.</li>
<li>Alpha Cap Acq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPC#NASDAQ">ASPC</a>) stock set a new 52-week low of $6.54 on Wednesday, moving down 28.22%.</li>
<li>Bright Green (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGXX#NASDAQ">BGXX</a>) shares set a new yearly low of $1.11 this morning. The stock was down 5.04% on the session.</li>
<li>Mastech Digital (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MHH#AMEX">MHH</a>) shares set a new yearly low of $12.72 this morning. The stock was up 11.0% on the session.</li>
<li>Vinco Ventures (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIG#NASDAQ">BBIG</a>) shares set a new 52-week low of $0.67. The stock traded down 4.56%.</li>
<li>Greenhill &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHL#NYSE">GHL</a>) stock dropped to a yearly low on Wednesday of $7.65. Shares traded down 3.4%.</li>
<li>Hydrofarm Holdings Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYFM#NASDAQ">HYFM</a>) shares set a new 52-week low of $2.27. The stock traded down 17.28%.</li>
<li>Orion Energy Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OESX#NASDAQ">OESX</a>) stock hit $1.87 on Wednesday morning, setting a new 52-week low for a change of down 18.28%.</li>
<li>United Insurance Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UIHC#NASDAQ">UIHC</a>) shares set a new yearly low of $0.98 this morning. The stock was down 5.66% on the session.</li>
<li>IM Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMCC#NASDAQ">IMCC</a>) stock broke to a new 52-week low of $0.40 on Wednesday. Shares of the company traded up 0.39%.</li>
<li>Zovio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVO#NASDAQ">ZVO</a>) shares set a new 52-week low of $0.47. The stock traded down 15.61%.</li>
<li>NeuroBo Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRBO#NASDAQ">NRBO</a>) stock drifted up 0.46% on Wednesday morning to hit a new 52-week low of $0.34.</li>
<li>Impac Mortgage Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMH#AMEX">IMH</a>) shares moved down 2.53% on Wednesday to hit a new 52-week low of $0.39, drifting down 2.53%.</li>
<li>Highway Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIHO#NASDAQ">HIHO</a>) shares hit a yearly low of $1.72. The stock was up 2.39% on the session.</li>
<li>Grom Social Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GROM#NASDAQ">GROM</a>) shares hit a yearly low of $0.35. The stock was up 1.29% on the session.</li>
<li>Benitec Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTC#NASDAQ">BNTC</a>) shares set a new yearly low of $0.68 this morning. The stock was down 3.31% on the session.</li>
</ul>
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