Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Purchases 23,901 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 23,901 shares of the stock in a transaction dated Thursday, October 29th. The stock was acquired at an average price of $20.11 per share, with a total value of $480,649.11. Following the completion of the purchase, the insider owned 2,449,682 shares of the company’s stock, valued at $49,263,105.02. This represents a 0.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Monday, November 9th, Saba Capital Management, L.P. bought 4,365 shares of Mexico Fund stock. The shares were bought at an average price of $21.06 per share, for a total transaction of $91,926.90.
• On Friday, November 6th, Saba Capital Management, L.P. acquired 18,250 shares of Mexico Fund stock. The stock was bought at an average price of $20.75 per share, with a total value of $378,687.50.
• On Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.72 per share, with a total value of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. acquired 15,011 shares of Mexico Fund stock. The stock was purchased at an average price of $20.95 per share, with a total value of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. bought 13,804 shares of Mexico Fund stock. The shares were acquired at an average price of $20.54 per share, for a total transaction of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The stock was acquired at an average price of $20.51 per share, for a total transaction of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. acquired 15,143 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.25 per share, for a total transaction of $306,645.75.
• On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The stock was bought at an average cost of $20.13 per share, for a total transaction of $22,565.73.
• On Thursday, October 22nd, Saba Capital Management, L.P. acquired 2,000 shares of Mexico Fund stock. The stock was bought at an average price of $20.14 per share, with a total value of $40,280.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 16,035 shares of Mexico Fund stock. The shares were bought at an average price of $20.42 per share, for a total transaction of $327,434.70.

Mexico Fund Stock Up 1.0%

Shares of MXF stock opened at $21.31 on Thursday. The stock has a 50-day moving average of $20.69 and a 200-day moving average of $21.42. Mexico Fund, Inc. has a one year low of $18.62 and a one year high of $23.00.

Mexico Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 21st were given a $0.35 dividend. The ex-dividend date was Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%.

Institutional Trading of Mexico Fund

Several hedge funds have recently bought and sold shares of the stock. City of London Investment Management Co. Ltd. boosted its holdings in shares of Mexico Fund by 0.6% in the third quarter. City of London Investment Management Co. Ltd. now owns 3,230,491 shares of the investment management company’s stock valued at $65,870,000 after buying an additional 19,166 shares during the period. Saba Capital Management L.P. boosted its position in shares of Mexico Fund by 4.3% during the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock worth $36,927,000 after buying an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC raised its position in Mexico Fund by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock valued at $20,548,000 after buying an additional 27,983 shares during the last quarter. Almitas Capital LLC bought a new stake in Mexico Fund in the 2nd quarter valued at approximately $3,736,000. Finally, North Ground Capital bought a new stake in Mexico Fund in the 2nd quarter valued at approximately $2,981,931.

Top Mexico Fund Stories

Here are a few of the latest stories about MXF:

• Positive Sentiment: Saba disclosed a series of MXF purchases from October 14 through November 9, including 4,365 shares bought most recently at an average $21.06. Its reported holdings reached 2,540,570 shares. Sustained buying by a major shareholder can signal confidence in the fund and provide a supportive sentiment cue, though it does not guarantee future performance. Saba Capital purchase report

Mexico Fund Company Profile

The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.