Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 18,466 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 18,466 shares of Mexico Fund stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $22.17 per share, with a total value of $409,391.22. Following the transaction, the insider directly owned 2,091,089 shares in the company, valued at $46,359,443.13. This trade represents a 0.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Thursday, May 28th, Saba Capital Management, L.P. purchased 6,700 shares of Mexico Fund stock. The shares were acquired at an average price of $22.16 per share, with a total value of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. acquired 44,608 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.27 per share, for a total transaction of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. acquired 14,402 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.99 per share, for a total transaction of $316,699.98.
• On Thursday, May 21st, Saba Capital Management, L.P. acquired 7,166 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.67 per share, for a total transaction of $155,287.22.
• On Wednesday, May 20th, Saba Capital Management, L.P. bought 4,610 shares of Mexico Fund stock. The shares were bought at an average cost of $21.68 per share, for a total transaction of $99,944.80.
• On Tuesday, May 19th, Saba Capital Management, L.P. bought 22,914 shares of Mexico Fund stock. The shares were bought at an average cost of $21.58 per share, for a total transaction of $494,484.12.
• On Monday, May 18th, Saba Capital Management, L.P. bought 18,586 shares of Mexico Fund stock. The shares were bought 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 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. purchased 33,108 shares of Mexico Fund stock. The shares were acquired 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. purchased 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.

Mexico Fund Stock Down 1.5%

NYSE:MXF traded down $0.33 during trading hours on Monday, hitting $21.93. 15,336 shares of the company’s stock traded hands, compared to its average volume of 65,767. Mexico Fund, Inc. has a twelve month low of $16.43 and a twelve month high of $23.00. The stock’s fifty day moving average price is $21.49 and its two-hundred day moving average price is $21.04.

Mexico Fund Dividend Announcement

The company also recently announced 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 was Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 6.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MXF. Farther Finance Advisors LLC boosted its stake in Mexico Fund by 775.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 1,194 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in Mexico Fund by 109.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 2,735 shares during the period. Alpine Global Management LLC bought a new stake in Mexico Fund during the 3rd quarter valued at approximately $265,000. Calamos Advisors LLC boosted its stake in Mexico Fund by 32.1% during the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 4,563 shares during the period. Finally, Scotia Capital Inc. boosted its stake in Mexico Fund by 127.8% during the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after purchasing 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.