Saba Capital Management, L.P. Buys 16,228 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 16,228 shares of Mexico Fund stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average cost of $19.95 per share, with a total value of $323,748.60. Following the purchase, the insider owned 1,691,300 shares of the company’s stock, valued at $33,741,435. This represents a 0.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large 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, December 15th, Saba Capital Management, L.P. bought 28,475 shares of Mexico Fund stock. The stock was purchased at an average price of $20.22 per share, for a total transaction of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. purchased 9,400 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.91 per share, with a total value of $187,154.00.
• On Thursday, December 11th, Saba Capital Management, L.P. bought 6,008 shares of Mexico Fund stock. The shares were acquired at an average price of $20.20 per share, with a total value of $121,361.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. purchased 1,000 shares of Mexico Fund stock. The shares were acquired at an average price of $19.70 per share, with a total value of $19,700.00.
• On Tuesday, December 9th, Saba Capital Management, L.P. acquired 628 shares of Mexico Fund stock. The shares were acquired at an average cost of $19.74 per share, with a total value of $12,396.72.
• On Monday, December 8th, Saba Capital Management, L.P. acquired 2,403 shares of Mexico Fund stock. The stock was bought at an average price of $19.63 per share, for a total transaction of $47,170.89.
• On Friday, December 5th, Saba Capital Management, L.P. bought 15,492 shares of Mexico Fund stock. The stock was bought at an average cost of $19.59 per share, for a total transaction of $303,488.28.
• On Thursday, December 4th, Saba Capital Management, L.P. purchased 698 shares of Mexico Fund stock. The stock was bought at an average cost of $19.58 per share, with a total value of $13,666.84.
• On Tuesday, December 2nd, Saba Capital Management, L.P. purchased 299 shares of Mexico Fund stock. The stock was bought at an average cost of $19.44 per share, for a total transaction of $5,812.56.
• On Monday, December 1st, Saba Capital Management, L.P. acquired 10,902 shares of Mexico Fund stock. The shares were bought at an average price of $19.45 per share, for a total transaction of $212,043.90.

Mexico Fund Stock Up 0.6%

NYSE MXF opened at $20.02 on Friday. Mexico Fund, Inc. has a 52-week low of $13.10 and a 52-week high of $20.45. The company has a fifty day moving average of $19.31 and a 200-day moving average of $18.44.

Mexico Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Stockholders of record on Wednesday, January 21st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Wednesday, January 21st. This is an increase from Mexico Fund’s previous quarterly dividend of $0.25.

Institutional Trading of Mexico Fund

Hedge funds have recently bought and sold shares of the company. City of London Investment Management Co. Ltd. grew its position in Mexico Fund by 9.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company’s stock valued at $63,406,000 after acquiring an additional 305,864 shares during the last quarter. North Ground Capital bought a new position in shares of Mexico Fund during the 3rd quarter valued at $608,000. Almitas Capital LLC raised its position in Mexico Fund by 8.3% in the 1st quarter. Almitas Capital LLC now owns 344,264 shares of the investment management company’s stock worth $4,899,000 after purchasing an additional 26,418 shares during the period. Landscape Capital Management L.L.C. lifted its stake in Mexico Fund by 34.9% in the first quarter. Landscape Capital Management L.L.C. now owns 73,799 shares of the investment management company’s stock worth $1,050,000 after purchasing an additional 19,109 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in 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 period.

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.