Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases 13,451 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 13,451 shares of the stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $18.94 per share, for a total transaction of $254,761.94. Following the completion of the transaction, the insider owned 1,550,425 shares of the company’s stock, valued at $29,365,049.50. The trade was a 0.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Thursday, October 23rd, Saba Capital Management, L.P. acquired 506 shares of Mexico Fund stock. The shares were acquired at an average cost of $18.64 per share, with a total value of $9,431.84.

Mexico Fund Price Performance

NYSE:MXF traded up $0.44 during mid-day trading on Tuesday, hitting $19.14. 111,123 shares of the company’s stock traded hands, compared to its average volume of 56,303. The firm has a 50 day moving average of $19.10 and a two-hundred day moving average of $17.92. Mexico Fund, Inc. has a 12 month low of $12.99 and a 12 month high of $19.86.

Mexico Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Wednesday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Wednesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 5.2%.

Hedge Funds Weigh In On Mexico Fund

Several large investors have recently bought and sold shares of MXF. City of London Investment Management Co. Ltd. boosted its holdings in Mexico Fund by 9.3% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company’s stock valued at $63,406,000 after purchasing an additional 305,864 shares during the period. Almitas Capital LLC raised its position in shares of Mexico Fund by 8.3% during the first quarter. Almitas Capital LLC now owns 344,264 shares of the investment management company’s stock valued at $4,899,000 after buying an additional 26,418 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of Mexico Fund by 62.1% during the first quarter. Wolverine Asset Management LLC now owns 236,078 shares of the investment management company’s stock valued at $3,359,000 after buying an additional 90,483 shares during the last quarter. SFI Advisors LLC lifted its stake in shares of Mexico Fund by 4.6% in the second quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company’s stock valued at $2,423,000 after buying an additional 6,121 shares during the period. Finally, Quantedge Capital Pte Ltd grew its position in Mexico Fund by 3.7% during the second quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company’s stock worth $2,286,000 after buying an additional 4,650 shares in the last quarter.

Mexico Fund Company Profile

The Mexico Fund, Inc is a closed-ended equity mutual fund launched and managed by Impulsora del Fondo México, S.C. It primarily invests in public equity markets of Mexico. The fund seeks to invest its portfolio across diversified sectors. The Mexico Fund, Inc was formed in June 01, 1981 and is domiciled in Maryland, United States.