Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires $728,376.00 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 33,108 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $728,376.00. Following the completion of the acquisition, the insider directly owned 1,945,303 shares of the company’s stock, valued at approximately $42,796,666. This trade represents a 1.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, May 18th, Saba Capital Management, L.P. bought 18,586 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.59 per share, for a total transaction of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. bought 8,334 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $183,348.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. bought 15,148 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.13 per share, for a total transaction of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. bought 9,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.01 per share, for a total transaction of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. acquired 3,000 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.82 per share, for a total transaction of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. acquired 217 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.33 per share, for a total transaction of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. acquired 100,000 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.83 per share, for a total transaction of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. acquired 3,505 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.86 per share, for a total transaction of $76,619.30.
• On Friday, April 17th, Saba Capital Management, L.P. acquired 179 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. acquired 2,200 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.17 per share, for a total transaction of $48,774.00.

Mexico Fund Price Performance

Shares of NYSE:MXF opened at $21.76 on Thursday. The company’s 50 day simple moving average is $21.29 and its 200 day simple moving average is $20.90. Mexico Fund, Inc. has a 1 year low of $16.22 and a 1 year high of $23.00.

Mexico Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Wednesday, April 22nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. North Ground Capital bought a new position in Mexico Fund in the third quarter valued at approximately $608,000. Altium Capital Management LLC bought a new position in Mexico Fund in the fourth quarter valued at approximately $972,000. Calamos Advisors LLC increased its stake in Mexico Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock valued at $446,000 after acquiring an additional 2,535 shares during the last quarter. Uhlmann Price Securities LLC boosted its position in Mexico Fund by 1.9% in the first quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock valued at $2,243,000 after buying an additional 2,013 shares in the last quarter. Finally, Alpine Global Management LLC boosted its position in Mexico Fund by 356.7% in the fourth quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock valued at $1,237,000 after buying an additional 47,979 shares in the last quarter.

About Mexico Fund

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.