Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 2,520 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 2,520 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were acquired at an average cost of $20.45 per share, with a total value of $51,534.00. Following the acquisition, the insider directly owned 1,693,830 shares of the company’s stock, valued at approximately $34,638,823.50. This represents a 0.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Friday, January 9th, Saba Capital Management, L.P. purchased 10 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.24 per share, for a total transaction of $202.40.
• On Tuesday, December 16th, Saba Capital Management, L.P. purchased 16,228 shares of Mexico Fund stock. The shares were acquired at an average price of $19.95 per share, for a total transaction of $323,748.60.
• On Monday, December 15th, Saba Capital Management, L.P. acquired 28,475 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.22 per share, with a total value of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. acquired 9,400 shares of Mexico Fund stock. The stock was acquired at an average price of $19.91 per share, with a total value of $187,154.00.
• On Thursday, December 11th, Saba Capital Management, L.P. bought 6,008 shares of Mexico Fund stock. The stock was acquired 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. bought 1,000 shares of Mexico Fund stock. The shares were bought 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. purchased 628 shares of Mexico Fund stock. The stock was bought at an average price of $19.74 per share, with a total value of $12,396.72.
• On Monday, December 8th, Saba Capital Management, L.P. purchased 2,403 shares of Mexico Fund stock. The stock was bought at an average cost of $19.63 per share, with a total value of $47,170.89.
• On Friday, December 5th, Saba Capital Management, L.P. acquired 15,492 shares of Mexico Fund stock. The shares were bought at an average price of $19.59 per share, for a total transaction of $303,488.28.
• On Thursday, December 4th, Saba Capital Management, L.P. acquired 698 shares of Mexico Fund stock. The shares were bought at an average cost of $19.58 per share, for a total transaction of $13,666.84.

Mexico Fund Stock Up 0.8%

NYSE:MXF traded up $0.16 during trading hours on Tuesday, hitting $20.70. The company had a trading volume of 36,577 shares, compared to its average volume of 57,557. Mexico Fund, Inc. has a 1 year low of $13.10 and a 1 year high of $20.79. The company has a 50-day moving average of $19.76 and a 200 day moving average of $18.84.

Mexico Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Wednesday, January 21st will be issued a $0.35 dividend. This is an increase from Mexico Fund’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, January 21st.

Institutional Trading of Mexico Fund

Hedge funds have recently made changes to their positions in the company. City of London Investment Management Co. Ltd. increased its holdings in shares of Mexico Fund by 9.3% during the 2nd quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company’s stock worth $63,406,000 after buying an additional 305,864 shares during the last quarter. SFI Advisors LLC grew its position in Mexico Fund by 4.6% in the second quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company’s stock worth $2,423,000 after acquiring an additional 6,121 shares during the period. Quantedge Capital Pte Ltd grew its position in Mexico Fund by 3.7% in the second quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company’s stock worth $2,286,000 after acquiring an additional 4,650 shares during the period. Uhlmann Price Securities LLC increased its stake in Mexico Fund by 1.0% during the fourth quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock worth $2,118,000 after acquiring an additional 1,074 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in Mexico Fund by 21.7% in the third quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after purchasing an additional 17,747 shares during the period.

Mexico Fund Company Profile

The Mexico Fund, Inc (NYSE: MXF) is a closed-end management investment company that seeks long-term capital appreciation through exposure to Mexican securities. The fund primarily invests in equity instruments of companies organized or principally operating in Mexico, spanning a range of sectors such as financial services, consumer goods, industrials and energy. It may also allocate portions of its portfolio to fixed-income securities, including government and corporate bonds, when attractive opportunities arise.

Launched in 1991 and incorporated under Maryland law, The Mexico Fund offers U.S.