Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 6,403 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 6,403 shares of Mexico Fund stock in a transaction on Wednesday, September 16th. The shares were acquired at an average cost of $20.63 per share, with a total value of $132,093.89. Following the completion of the transaction, the insider directly owned 2,310,578 shares in the company, valued at $47,667,224.14. The trade was a 0.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more 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, September 15th, Saba Capital Management, L.P. acquired 459 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.89 per share, for a total transaction of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. acquired 2,952 shares of Mexico Fund stock. The stock was acquired at an average price of $21.41 per share, for a total transaction of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The stock was acquired at an average price of $22.19 per share, for a total transaction of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.34 per share, with a total value of $65,663.18.
• On Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The shares were acquired at an average price of $21.56 per share, with a total value of $56,228.48.
• On Wednesday, July 22nd, Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock. The shares were acquired at an average price of $21.80 per share, with a total value of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. purchased 414 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.11 per share, for a total transaction of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The shares were bought at an average price of $21.52 per share, with a total value of $4,304.00.
• On Monday, July 20th, Saba Capital Management, L.P. acquired 7,631 shares of Mexico Fund stock. The stock was bought at an average cost of $21.49 per share, with a total value of $163,990.19.
• On Wednesday, July 8th, Saba Capital Management, L.P. bought 522 shares of Mexico Fund stock. The stock was bought at an average price of $21.26 per share, for a total transaction of $11,097.72.

Mexico Fund Stock Up 0.8%

Mexico Fund stock traded up $0.17 during midday trading on Thursday, hitting $21.34. 14,245 shares of the company were exchanged, compared to its average volume of 53,276. The business has a fifty day simple moving average of $21.59 and a two-hundred day simple moving average of $21.54. Mexico Fund, Inc. has a fifty-two week low of $18.30 and a fifty-two week high of $23.00.

Mexico Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 21st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Almitas Capital LLC acquired a new position in shares of Mexico Fund in the second quarter worth about $3,736,000. North Ground Capital acquired a new stake in shares of Mexico Fund during the 2nd quarter valued at about $2,981,931. Public Employees Retirement System of Ohio acquired a new stake in shares of Mexico Fund during the 2nd quarter valued at about $2,266,000. Altium Capital Management LLC increased its stake in shares of Mexico Fund by 165.5% in the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock valued at $2,683,000 after purchasing an additional 79,898 shares in the last quarter. Finally, Saba Capital Management L.P. increased its stake in shares of Mexico Fund by 4.3% in the 1st 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 in the last quarter.

Mexico Fund Company Profile

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico’s economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.