Mexico Fund (NYSE:MXF) Major Shareholder Acquires $335,225.24 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 15,148 shares of Mexico Fund stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $22.13 per share, with a total value of $335,225.24. Following the completion of the acquisition, the insider directly owned 1,912,195 shares of the company’s stock, valued at approximately $42,316,875.35. The trade was a 0.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 Tuesday, May 12th, Saba Capital Management, L.P. purchased 9,000 shares of Mexico Fund stock. The shares were purchased at an average price of $22.01 per share, for a total transaction of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. purchased 3,000 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.82 per share, for a total transaction of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. purchased 217 shares of Mexico Fund stock. The stock was acquired at an average price of $21.33 per share, with a total value of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. acquired 100,000 shares of Mexico Fund stock. The shares were purchased at an average price of $21.83 per share, with a total value of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. purchased 3,505 shares of Mexico Fund stock. The shares were bought at an average cost of $21.86 per share, for a total transaction of $76,619.30.
• On Friday, April 17th, Saba Capital Management, L.P. purchased 179 shares of Mexico Fund stock. The shares were bought at an average cost of $22.00 per share, for a total transaction of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. purchased 2,200 shares of Mexico Fund stock. The shares were bought at an average cost of $22.17 per share, for a total transaction of $48,774.00.
• On Monday, April 6th, Saba Capital Management, L.P. purchased 3,814 shares of Mexico Fund stock. The shares were bought at an average cost of $21.23 per share, for a total transaction of $80,971.22.
• On Thursday, April 2nd, Saba Capital Management, L.P. acquired 10,800 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.28 per share, for a total transaction of $229,824.00.
• On Friday, March 20th, Saba Capital Management, L.P. acquired 2,871 shares of Mexico Fund stock. The stock was acquired at an average cost of $19.83 per share, for a total transaction of $56,931.93.

Mexico Fund Stock Performance

Shares of MXF traded up $0.13 on Thursday, reaching $22.28. The company’s stock had a trading volume of 14,100 shares, compared to its average volume of 66,086. The stock’s 50 day simple moving average is $21.24 and its two-hundred day simple moving average is $20.81. Mexico Fund, Inc. has a 12-month low of $15.98 and a 12-month high of $23.00.

Mexico Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.3%.

Hedge Funds Weigh In On Mexico Fund

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings 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 lifted its holdings 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 lifted its holdings 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. lifted its holdings 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.