Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 550 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 550 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were bought at an average cost of $21.29 per share, for a total transaction of $11,709.50. Following the transaction, the insider directly owned 1,694,380 shares of the company’s stock, valued at $36,073,350.20. This trade represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Monday, January 12th, Saba Capital Management, L.P. purchased 2,520 shares of Mexico Fund stock. The stock was bought at an average price of $20.45 per share, for a total transaction of $51,534.00.
• On Friday, January 9th, Saba Capital Management, L.P. acquired 10 shares of Mexico Fund stock. The shares were bought at an average price of $20.24 per share, for a total transaction of $202.40.
• On Tuesday, December 16th, Saba Capital Management, L.P. bought 16,228 shares of Mexico Fund stock. The stock was bought at an average price of $19.95 per share, with a total value of $323,748.60.
• On Monday, December 15th, Saba Capital Management, L.P. purchased 28,475 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.22 per share, with a total value of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. acquired 9,400 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.91 per share, for a total transaction of $187,154.00.
• On Thursday, December 11th, Saba Capital Management, L.P. acquired 6,008 shares of Mexico Fund stock. The shares were purchased at an average price of $20.20 per share, for a total transaction of $121,361.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.70 per share, with a total value of $19,700.00.
• On Tuesday, December 9th, Saba Capital Management, L.P. purchased 628 shares of Mexico Fund stock. The shares were acquired at an average price of $19.74 per share, for a total transaction of $12,396.72.
• On Monday, December 8th, Saba Capital Management, L.P. acquired 2,403 shares of Mexico Fund stock. The shares were acquired at an average cost of $19.63 per share, with a total value of $47,170.89.
• On Friday, December 5th, Saba Capital Management, L.P. bought 15,492 shares of Mexico Fund stock. The shares were acquired at an average price of $19.59 per share, for a total transaction of $303,488.28.

Mexico Fund Price Performance

NYSE:MXF opened at $21.30 on Friday. Mexico Fund, Inc. has a 12-month low of $13.10 and a 12-month high of $21.78. The firm has a 50-day moving average price of $20.05 and a 200 day moving average price of $19.02.

Mexico Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.6%. The ex-dividend date is Wednesday, January 21st. This is a positive change from Mexico Fund’s previous quarterly dividend of $0.25.

Institutional Trading of Mexico Fund

A number of hedge funds have recently modified their holdings of the company. Uhlmann Price Securities LLC boosted its stake in Mexico Fund by 0.7% during the 2nd quarter. Uhlmann Price Securities LLC now owns 101,484 shares of the investment management company’s stock worth $1,783,000 after acquiring an additional 696 shares during the last quarter. City of London Investment Management Co. Ltd. increased its position in shares of Mexico Fund by 9.3% in the 2nd 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 buying an additional 305,864 shares in the last quarter. SFI Advisors LLC raised its stake in Mexico Fund by 4.6% during the 2nd quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company’s stock worth $2,423,000 after buying an additional 6,121 shares during the period. Scotia Capital Inc. bought a new position in Mexico Fund during the second quarter worth about $196,000. Finally, Quantedge Capital Pte Ltd grew its stake in Mexico Fund by 3.7% in the second quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company’s stock valued at $2,286,000 after acquiring an additional 4,650 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.