Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases 9,400 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXFGet Free Report) major shareholder Saba Capital Management, L.P. bought 9,400 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were bought at an average cost of $19.91 per share, for a total transaction of $187,154.00. Following the purchase, the insider owned 1,646,597 shares of the company’s stock, valued at approximately $32,783,746.27. The trade was a 0.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Thursday, December 11th, Saba Capital Management, L.P. acquired 6,008 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.20 per share, for a total transaction of $121,361.60.
  • On Wednesday, December 10th, Saba Capital Management, L.P. acquired 1,000 shares of Mexico Fund stock. The shares were purchased at an average price of $19.70 per share, for a total transaction of $19,700.00.
  • On Tuesday, December 9th, Saba Capital Management, L.P. bought 628 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.74 per share, with a total value of $12,396.72.
  • On Monday, December 8th, Saba Capital Management, L.P. bought 2,403 shares of Mexico Fund stock. The stock was purchased at an average price of $19.63 per share, with a total value of $47,170.89.
  • On Friday, December 5th, Saba Capital Management, L.P. purchased 15,492 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.59 per share, for a total transaction of $303,488.28.
  • On Thursday, December 4th, Saba Capital Management, L.P. purchased 698 shares of Mexico Fund stock. The shares were purchased at an average price of $19.58 per share, for a total transaction of $13,666.84.
  • On Tuesday, December 2nd, Saba Capital Management, L.P. purchased 299 shares of Mexico Fund stock. The stock was acquired at an average price of $19.44 per share, with a total value of $5,812.56.
  • On Monday, December 1st, Saba Capital Management, L.P. acquired 10,902 shares of Mexico Fund stock. The stock was bought at an average price of $19.45 per share, with a total value of $212,043.90.
  • On Tuesday, November 25th, Saba Capital Management, L.P. purchased 1,869 shares of Mexico Fund stock. The stock was bought at an average cost of $19.10 per share, with a total value of $35,697.90.
  • On Friday, November 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were purchased at an average price of $18.76 per share, with a total value of $3,752.00.

Mexico Fund Stock Up 0.9%

Shares of NYSE MXF traded up $0.19 during midday trading on Monday, reaching $20.23. The stock had a trading volume of 46,251 shares, compared to its average volume of 55,491. The company’s 50 day moving average price is $19.20 and its 200 day moving average price is $18.35. Mexico Fund, Inc. has a twelve month low of $13.10 and a twelve month high of $20.45.

Mexico Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.9%. This is an increase from Mexico Fund’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, January 21st.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MXF. Blue Bell Private Wealth Management LLC lifted its stake in shares of Mexico Fund by 92.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock valued at $49,000 after purchasing an additional 1,200 shares during the period. Scotia Capital Inc. bought a new stake in Mexico Fund in the second quarter worth approximately $196,000. Alpine Global Management LLC acquired a new position in Mexico Fund in the third quarter valued at approximately $265,000. Calamos Advisors LLC boosted its holdings in shares of Mexico Fund by 21.7% during the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock worth $280,000 after buying an additional 2,535 shares in the last quarter. Finally, North Ground Capital bought a new position in shares of Mexico Fund during the 3rd quarter worth approximately $608,000.

Mexico Fund Company Profile

(Get Free Report)

The Mexico Fund, Inc is a closed-ended equity mutual fund launched and managed by Impulsora del Fondo México, S.C. It primarily invests in public equity markets of Mexico. The fund seeks to invest its portfolio across diversified sectors. The Mexico Fund, Inc was formed in June 01, 1981 and is domiciled in Maryland, United States.

Further Reading

Insider Buying and Selling by Quarter for Mexico Fund (NYSE:MXF)

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