Mexico Fund (NYSE:MXF) Major Shareholder Acquires 9,362 Shares

Mexico Fund, Inc. (The) (NYSE:MXFGet Free Report) major shareholder Saba Capital Management, L.P. acquired 9,362 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $22.19 per share, for a total transaction of $207,742.78. Following the completion of the transaction, the insider owned 2,300,764 shares of the company’s stock, valued at approximately $51,053,953.16. This trade represents a 0.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Wednesday, July 29th, Saba Capital Management, L.P. acquired 3,077 shares of Mexico Fund stock. The stock was bought at an average cost of $21.34 per share, with a total value of $65,663.18.
  • On Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The stock was bought at an average price of $21.56 per share, with a total value of $56,228.48.
  • On Wednesday, July 22nd, Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock. The stock was bought at an average price of $21.80 per share, with a total value of $166,181.40.
  • On Thursday, July 23rd, Saba Capital Management, L.P. bought 414 shares of Mexico Fund stock. The shares were bought at an average cost of $21.11 per share, for a total transaction of $8,739.54.
  • On Tuesday, July 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were bought at an average price of $21.52 per share, for a total transaction of $4,304.00.
  • On Monday, July 20th, Saba Capital Management, L.P. purchased 7,631 shares of Mexico Fund stock. The stock was bought at an average price of $21.49 per share, with a total value of $163,990.19.
  • On Wednesday, July 8th, Saba Capital Management, L.P. purchased 522 shares of Mexico Fund stock. The stock was bought at an average price of $21.26 per share, with a total value of $11,097.72.
  • On Tuesday, July 7th, Saba Capital Management, L.P. acquired 1,828 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.73 per share, with a total value of $39,722.44.
  • On Wednesday, June 24th, Saba Capital Management, L.P. acquired 5,100 shares of Mexico Fund stock. The shares were purchased at an average price of $21.31 per share, for a total transaction of $108,681.00.
  • On Tuesday, June 23rd, Saba Capital Management, L.P. bought 15,051 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.52 per share, for a total transaction of $323,897.52.

Mexico Fund Price Performance

Shares of Mexico Fund stock traded up $0.21 during trading on Thursday, hitting $21.97. The stock had a trading volume of 6,140 shares, compared to its average volume of 57,216. The firm’s fifty day simple moving average is $21.72 and its 200-day simple moving average is $21.65. Mexico Fund, Inc. has a 12 month low of $17.81 and a 12 month high of $23.00.

Mexico Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd were given 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, July 22nd.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Saba Capital Management L.P. increased its stake in Mexico Fund by 32.4% in the 4th quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company’s stock worth $34,063,000 after buying an additional 413,606 shares during the period. Marex Group plc purchased a new stake in shares of Mexico Fund in the fourth quarter valued at approximately $1,926,000. North Ground Capital grew its stake in Mexico Fund by 309.2% in the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock worth $2,544,000 after purchasing an additional 95,443 shares in the last quarter. Altium Capital Management LLC increased its holdings in Mexico Fund by 165.5% during the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after purchasing an additional 79,898 shares during the period. Finally, Alpine Global Management LLC raised its position in Mexico Fund by 356.7% during the 4th quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock valued at $1,237,000 after purchasing an additional 47,979 shares in the last quarter.

About Mexico Fund

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Mexico Fund (NYSE:MXF)

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