Saba Capital Management, L.P. Buys 18,586 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 18,586 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $21.59 per share, for a total transaction of $401,271.74. Following the completion of the purchase, the insider owned 1,972,223 shares of the company’s stock, valued at $42,580,294.57. This trade represents a 0.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Friday, May 15th, Saba Capital Management, L.P. acquired 8,334 shares of Mexico Fund stock. The stock was bought at an average cost of $22.00 per share, for a total transaction of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. acquired 33,108 shares of Mexico Fund stock. The stock was bought at an average cost of $22.00 per share, for a total transaction of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. acquired 15,148 shares of Mexico Fund stock. The stock was bought 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. acquired 9,000 shares of Mexico Fund stock. The stock was bought 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 bought 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 bought 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. bought 100,000 shares of Mexico Fund stock. The stock was acquired at an average price of $21.83 per share, with a total value of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. purchased 3,505 shares of Mexico Fund stock. The stock was acquired 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. purchased 179 shares of Mexico Fund stock. The stock was acquired 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. purchased 2,200 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.17 per share, for a total transaction of $48,774.00.

Mexico Fund Price Performance

Shares of MXF opened at $21.76 on Thursday. Mexico Fund, Inc. has a 52-week low of $16.22 and a 52-week high of $23.00. The business’s 50 day moving average price is $21.29 and its two-hundred day moving average price is $20.90.

Mexico Fund Dividend Announcement

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

Hedge Funds Weigh In On Mexico Fund

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in Mexico Fund by 775.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after buying an additional 1,194 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake in Mexico Fund by 109.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after buying an additional 2,735 shares during the period. Alpine Global Management LLC acquired a new position in Mexico Fund in the third quarter valued at approximately $265,000. Calamos Advisors LLC lifted its stake in Mexico Fund by 32.1% in the fourth quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after buying an additional 4,563 shares during the period. Finally, Scotia Capital Inc. lifted its stake in Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after buying an additional 14,241 shares during the period.

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.