Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases 3,600 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 3,600 shares of Mexico Fund stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $21.14 per share, for a total transaction of $76,104.00. Following the transaction, the insider directly owned 2,188,987 shares of the company’s stock, valued at approximately $46,275,185.18. The trade was a 0.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, June 10th, Saba Capital Management, L.P. purchased 11,081 shares of Mexico Fund stock. The shares were bought at an average cost of $21.39 per share, for a total transaction of $237,022.59.
• On Friday, June 5th, Saba Capital Management, L.P. purchased 19,906 shares of Mexico Fund stock. The shares were bought at an average cost of $21.64 per share, for a total transaction of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. purchased 32,102 shares of Mexico Fund stock. The shares were bought at an average cost of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The shares were bought at an average cost of $22.16 per share, for a total transaction of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. purchased 9,633 shares of Mexico Fund stock. The shares were bought at an average cost of $22.24 per share, for a total transaction of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. purchased 708 shares of Mexico Fund stock. The shares were bought at an average cost of $21.90 per share, for a total transaction of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. purchased 18,466 shares of Mexico Fund stock. The shares were bought at an average cost of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. purchased 6,700 shares of Mexico Fund stock. The shares were bought at an average cost of $22.16 per share, for a total transaction of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. purchased 44,608 shares of Mexico Fund stock. The shares were bought at an average cost of $22.27 per share, for a total transaction of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. purchased 14,402 shares of Mexico Fund stock. The shares were bought at an average cost of $21.99 per share, for a total transaction of $316,699.98.

Mexico Fund Stock Performance

Shares of MXF stock traded up $0.16 during trading hours on Thursday, hitting $21.20. 17,767 shares of the company were exchanged, compared to its average volume of 64,275. Mexico Fund, Inc. has a one year low of $16.43 and a one year high of $23.00. The business’s 50-day simple moving average is $21.71 and its two-hundred day simple moving average is $21.18.

Mexico Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders 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 yield of 6.6%.

Hedge Funds Weigh In On Mexico Fund

A number of large investors have recently bought and sold shares of MXF. Uhlmann Price Securities LLC raised its holdings in shares of Mexico Fund by 2.5% during the third quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company’s stock valued at $2,050,000 after buying an additional 2,583 shares during the last quarter. Scotia Capital Inc. raised its holdings in shares of 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 buying an additional 14,241 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of Mexico Fund by 21.7% during the third quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after buying an additional 17,747 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of Mexico Fund during the third quarter valued at approximately $265,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of 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 buying an additional 1,194 shares during 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.