Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 16,035 Shares of Company Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 16,035 shares of the business’s stock in a transaction on Wednesday, October 21st. The shares were acquired at an average price of $20.42 per share, with a total value of $327,434.70. Following the purchase, the insider owned 2,422,660 shares of the company’s stock, valued at approximately $49,470,717.20. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.72 per share, with a total value of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. bought 15,011 shares of Mexico Fund stock. The stock was purchased at an average price of $20.95 per share, with a total value of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. bought 13,804 shares of Mexico Fund stock. The stock was bought at an average cost of $20.54 per share, with a total value of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were bought at an average cost of $20.51 per share, for a total transaction of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.25 per share, with a total value of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The stock was acquired at an average price of $20.11 per share, for a total transaction of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,121 shares of Mexico Fund stock. The stock was bought at an average price of $20.13 per share, with a total value of $22,565.73.
• On Thursday, October 22nd, Saba Capital Management, L.P. bought 2,000 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.14 per share, with a total value of $40,280.00.
• On Wednesday, October 14th, Saba Capital Management, L.P. bought 12,791 shares of Mexico Fund stock. The stock was acquired at an average cost of $19.88 per share, with a total value of $254,285.08.
• On Monday, October 5th, Saba Capital Management, L.P. purchased 25,900 shares of Mexico Fund stock. The stock was bought at an average price of $20.09 per share, with a total value of $520,331.00.

Mexico Fund Price Performance

MXF stock traded up $0.02 during trading hours on Tuesday, reaching $21.06. 7,704 shares of the stock were exchanged, compared to its average volume of 50,814. The firm’s 50-day moving average is $20.71 and its 200-day moving average is $21.42. Mexico Fund, Inc. has a 12 month low of $18.62 and a 12 month high of $23.00.

Mexico Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.6%. The ex-dividend date was Wednesday, October 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Almitas Capital LLC acquired a new position in shares of Mexico Fund in the second quarter valued at $3,736,000. North Ground Capital acquired a new position in Mexico Fund in the 2nd quarter valued at $2,981,931. Public Employees Retirement System of Ohio bought a new stake in shares of Mexico Fund during the 2nd quarter valued at $2,266,000. Saba Capital Management L.P. grew its holdings in shares of Mexico Fund by 4.3% during the 1st quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock worth $36,927,000 after purchasing an additional 73,032 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Mexico Fund in the second quarter worth $875,000.

Mexico Fund Company Profile

The Mexico Fund, Inc. (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.