UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13G/A
Under
the Securities Exchange Act of 1934
The
Mexico Equity and Income Fund Inc.
(Name
of
Issuer)
Preferred
Stock, par value $.001 per share
(Title
of
Class of Securities)
592834204
(CUSIP
Number)
Richard
J. Shaker
D.
B. A.
Shaker Financial Services
1094
Magothy Circle
Annapolis,
Maryland 21409
June
30,
2006
(Date
of
Event Which Requires Filing of this Statement)
Check
the
appropriate box to designate the rule pursuant to which this Schedule is
filed:
{ x } Rule
13d-1(b)
{
} Rule
13d-1(c)
{
} Rule
13d-1(d)
CUSIP
No.: 592834204
1. Names
of
Reporting Persons.
Richard
J. Shaker, DBA Shaker Financial Services
I.R.S. Identification Nos. of above persons (entities only).
IRS
TIN
51-0434319
2.
Check
the
Appropriate Box if a Member of a Group (See Instructions)
(a)
(Not Applicable)
(b)
(Not Applicable)
3.
SEC Use Only
4.
Citizenship
or Place of Organization
Richard J. Shaker is a U.S. citizen.
|
Number
of shares
Beneficially by Owned by
Each Reporting Person
with:
|
5. Sole
Voting Power:
6. Shared
Voting Power:
7. Sole
Dispositive Power:
8. Shared
Dispositive Power:
|
129,223
0
129,223
0
|
9.
Aggregate
Amount Beneficially Owned by Each Reporting Person.
Accounts
managed by Richard J. Shaker, doing business as Shaker Financial Services,
own
129,223 shares. No additional shares are beneficially owned by Mr. Shaker,
his
relatives, or, to his knowledge, by any of his clients.
10.
Check
if
the Aggregate Amount in Row (9) Excludes Certain Shares (No)
11. Percent
of Class Represented by Amount in Row (9): 9.1%.
12. Type
of
Reporting Person (See Instructions)
Richard
J. Shaker is a registered investment adviser (IA).
Item
1.
(a)
Name
of Issuer:
The
Mexico Equity and Income Fund, Inc.
(b)
Address of Issuer’s Principal Executive Office:
615
East
Michigan Street, 2nd
floor,
Milwaukee, Wisconsin 53202
Item
2.
(a)
Name
of Person Filing:
Richard
J. Shaker, DBA Shaker Financial Services
(b)
Address of Person Filing
1094
Magothy Circle
Annapolis,
MD 21401
Item
3. If
this state is filed pursuant to §§240.13d-1(b) or 24013d-2(b) or (c), check
whether the person filing is a:
(e)
[x] Richard J. Shaker DBA Shaker Financial Services is registered as
investment advisor under Section 203 of the Investment Advisers Act of 1940
Item
4. Ownership.
(a)
Amount Beneficially Owned: Accounts managed by Richard J. Shaker, doing
business as Shaker Financial Services, own 129,223 shares.
(b)
Percent of Class: 9.1%
(c)
Number of Shares to which such person has
(i) sole power to vote or to direct the vote: 129,223
(ii)
shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the disposition of:
129,223
(iv) shared power to dispose or to direct the disposition of: 0
Item
5. Ownership
of Five Percent or Less of a Class (Not
Applicable)
Item
6. Owners
of More than Five Percent on Behalf of Another Person. (Not
Applicable)
Item
7. Identification
and Classification of the Subsidiary Which Acquired the Security Being
Reported
on by the Parent Holding Company. (Not
Applicable)
Item
8. Identification
and Classification of Members of the Group. (Not
Applicable)
Item
9. Notice
of Dissolution of Group. (Not
Applicable)
Item
10. Certification.
By
signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired in the ordinary course of business
and were not acquired for the purpose of and do not have the effect of changing
or influencing the control of the issuer of such securities and were not
acquired in connection with or as a participant in any transactions having
such
purpose or effect.
Signature
After
reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
Date:
July 17, 2006
By:
/s/ Richard J.
Shaker
Richard J. Shaker, Investment Manager