Mexico Fund (NYSE:MXF) Major Shareholder Buys $693,724.22 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 32,102 shares of Mexico Fund stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $21.61 per share, with a total value of $693,724.22. Following the purchase, the insider directly owned 2,165,481 shares in the company, valued at approximately $46,796,044.41. The trade was a 1.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 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, June 5th, Saba Capital Management, L.P. acquired 19,906 shares of Mexico Fund stock. The shares were bought at an average price of $21.64 per share, with a total value of $430,765.84.
• On Wednesday, June 3rd, Saba Capital Management, L.P. bought 31,949 shares of Mexico Fund stock. The shares were acquired at an average price of $22.16 per share, for a total transaction of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. bought 9,633 shares of Mexico Fund stock. The shares were acquired at an average price of $22.24 per share, for a total transaction of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. bought 708 shares of Mexico Fund stock. The shares were acquired at an average price of $21.90 per share, for a total transaction of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. bought 18,466 shares of Mexico Fund stock. The shares were acquired at an average price of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. acquired 6,700 shares of Mexico Fund stock. The stock was purchased at an average price of $22.16 per share, for a total transaction 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 price 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 price 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 price 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 price of $21.68 per share, for a total transaction of $99,944.80.

Mexico Fund Stock Performance

Shares of Mexico Fund stock opened at $21.03 on Thursday. The stock’s 50 day simple moving average is $21.71 and its 200-day simple moving average is $21.18. Mexico Fund, Inc. has a 1-year low of $16.43 and a 1-year high of $23.00.

Mexico Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Wednesday, April 22nd.

Institutional Trading of Mexico Fund

Several institutional investors have recently made changes to their positions in MXF. Uhlmann Price Securities LLC raised its position in shares of Mexico Fund by 2.5% during the 3rd quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company’s stock valued at $2,050,000 after buying an additional 2,583 shares during the period. Scotia Capital Inc. raised its position in shares of 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 buying an additional 14,241 shares during the period. Verition Fund Management LLC raised its position in shares of Mexico Fund by 21.7% during the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after buying an additional 17,747 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Mexico Fund during the 3rd quarter valued at approximately $265,000. Finally, Farther Finance Advisors LLC raised its position in shares of 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 buying an additional 1,194 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.