Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Acquires 13,804 Shares

Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 13,804 shares of Mexico Fund stock in a transaction dated Tuesday, November 3rd. The shares were purchased at an average price of $20.54 per share, for a total transaction of $283,534.16. Following the completion of the transaction, the insider directly owned 2,478,829 shares in the company, valued at approximately $50,915,147.66. The trade was a 0.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 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 Monday, November 9th, Saba Capital Management, L.P. bought 4,365 shares of Mexico Fund stock. The stock was purchased at an average price of $21.06 per share, with a total value of $91,926.90.
  • On Friday, November 6th, Saba Capital Management, L.P. bought 18,250 shares of Mexico Fund stock. The stock was purchased at an average price of $20.75 per share, with a total value of $378,687.50.
  • On Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The stock was 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 cost of $20.95 per share, with a total value of $314,480.45.
  • On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were acquired at an average price of $20.51 per share, for a total transaction of $4,102.00.
  • On Friday, October 30th, Saba Capital Management, L.P. purchased 15,143 shares of Mexico Fund stock. The shares were acquired at an average price of $20.25 per share, for a total transaction of $306,645.75.
  • On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The shares were acquired at an average cost 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 acquired 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. acquired 2,000 shares of Mexico Fund stock. The stock was acquired at an average price of $20.14 per share, with a total value of $40,280.00.
  • On Wednesday, October 21st, Saba Capital Management, L.P. acquired 16,035 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.42 per share, with a total value of $327,434.70.

Mexico Fund Stock Up 1.0%

Shares of Mexico Fund stock opened at $21.31 on Thursday. Mexico Fund, Inc. has a 52-week low of $18.62 and a 52-week high of $23.00. The company has a fifty day moving average of $20.69 and a 200-day moving average of $21.42.

Mexico Fund Dividend Announcement

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

Institutional Trading of Mexico Fund

Institutional investors have recently added to or reduced their stakes in the business. Almitas Capital LLC bought a new position in shares of Mexico Fund during the second quarter valued at about $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund in the second quarter worth about $2,981,931. Public Employees Retirement System of Ohio purchased a new position in shares of Mexico Fund in the second quarter worth about $2,266,000. Saba Capital Management L.P. increased its holdings 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 worth $36,927,000 after buying an additional 73,032 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Mexico Fund in the 2nd quarter valued at about $875,000.

Recent Mexico Fund Headlines

Here are a few of the latest headlines about MXF:

  • Positive Sentiment: Saba disclosed a series of MXF purchases from October 14 through November 9, including 4,365 shares bought most recently at an average $21.06. Its reported holdings reached 2,540,570 shares. Sustained buying by a major shareholder can signal confidence in the fund and provide a supportive sentiment cue, though it does not guarantee future performance. Saba Capital purchase report

Mexico Fund Company Profile

(Get Free Report)

The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.

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Insider Buying and Selling by Quarter for Mexico Fund (NYSE:MXF)

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