Saba Capital Management, L.P. Purchases 44,608 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 44,608 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was bought at an average cost of $22.27 per share, for a total transaction of $993,420.16. Following the completion of the purchase, the insider directly owned 2,065,923 shares of the company’s stock, valued at $46,008,105.21. The trade was a 2.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 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 Tuesday, May 26th, Saba Capital Management, L.P. purchased 14,402 shares of Mexico Fund stock. The stock was bought at an average cost of $21.99 per share, for a total transaction of $316,699.98.
• On Thursday, May 21st, Saba Capital Management, L.P. purchased 7,166 shares of Mexico Fund stock. The stock was bought at an average cost of $21.67 per share, for a total transaction of $155,287.22.
• On Wednesday, May 20th, Saba Capital Management, L.P. purchased 4,610 shares of Mexico Fund stock. The stock was bought at an average cost of $21.68 per share, for a total transaction of $99,944.80.
• On Tuesday, May 19th, Saba Capital Management, L.P. purchased 22,914 shares of Mexico Fund stock. The stock was bought at an average cost of $21.58 per share, for a total transaction of $494,484.12.
• On Monday, May 18th, Saba Capital Management, L.P. purchased 18,586 shares of Mexico Fund stock. The stock was bought at an average cost of $21.59 per share, for a total transaction of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. purchased 8,334 shares of Mexico Fund stock. The stock was bought at an average cost of $22.00 per share, for a total transaction of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. bought 33,108 shares of Mexico Fund stock. The shares were bought at an average price of $22.00 per share, for a total transaction of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. bought 15,148 shares of Mexico Fund stock. The shares were bought at an average price of $22.13 per share, for a total transaction of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. bought 9,000 shares of Mexico Fund stock. The shares were bought 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. bought 3,000 shares of Mexico Fund stock. The shares were bought at an average price of $21.82 per share, for a total transaction of $65,460.00.

Mexico Fund Price Performance

NYSE MXF traded down $0.09 during trading on Thursday, hitting $22.22. 18,359 shares of the company traded hands, compared to its average volume of 66,548. Mexico Fund, Inc. has a 12 month low of $16.43 and a 12 month high of $23.00. The business has a fifty day simple moving average of $21.42 and a 200 day simple moving average of $20.99.

Mexico Fund Announces Dividend

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

Institutional Investors Weigh In On Mexico Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Saba Capital Management L.P. grew its position in shares of Mexico Fund by 4.3% in the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock valued at $36,927,000 after purchasing an additional 73,032 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Mexico Fund by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after buying an additional 27,983 shares in the last quarter. Altium Capital Management LLC grew its position in Mexico Fund by 165.5% during the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after buying an additional 79,898 shares in the last quarter. North Ground Capital grew its position in Mexico Fund by 309.2% during the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock worth $2,544,000 after buying an additional 95,443 shares in the last quarter. Finally, Uhlmann Price Securities LLC grew its position in Mexico Fund by 1.9% during the first quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock worth $2,243,000 after buying an additional 2,013 shares in the last quarter.

About Mexico Fund

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.