Saba Capital Management, L.P. Acquires 5,117 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 5,117 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $21.60 per share, for a total transaction of $110,527.20. Following the completion of the transaction, the insider owned 2,205,185 shares of the company’s stock, valued at $47,631,996. This represents a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large 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 Friday, June 12th, Saba Capital Management, L.P. bought 29,500 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.30 per share, for a total transaction of $657,850.00.
• On Wednesday, June 10th, Saba Capital Management, L.P. bought 11,081 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.39 per share, for a total transaction of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. bought 3,600 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.14 per share, for a total transaction of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. bought 19,906 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.64 per share, for a total transaction of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. bought 32,102 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. bought 31,949 shares of Mexico Fund stock. The stock was purchased at an average cost 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 stock was purchased at an average cost 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 stock was purchased at an average cost 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 stock was purchased at an average cost of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. bought 6,700 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.16 per share, for a total transaction of $148,472.00.

Mexico Fund Price Performance

Mexico Fund stock opened at $22.31 on Wednesday. The firm’s 50 day simple moving average is $21.79 and its 200-day simple moving average is $21.26. Mexico Fund, Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $23.00.

Mexico Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 6.3%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in Mexico Fund by 775.3% during the fourth 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 in the last quarter. Blue Bell Private Wealth Management LLC grew its position in Mexico Fund by 109.4% during 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 purchasing an additional 2,735 shares in the last quarter. Alpine Global Management LLC purchased a new position in Mexico Fund during the third quarter valued at approximately $265,000. Calamos Advisors LLC grew its position in Mexico Fund by 32.1% during the fourth 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 in the last quarter. Finally, Scotia Capital Inc. grew its position in Mexico Fund by 127.8% during the third 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 in the last quarter.

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.