Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 32,126 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 32,126 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was acquired at an average price of $22.69 per share, for a total transaction of $728,938.94. Following the completion of the acquisition, the insider directly owned 1,730,621 shares in the company, valued at approximately $39,267,790.49. This represents a 1.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more 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 Thursday, January 29th, Saba Capital Management, L.P. purchased 3,115 shares of Mexico Fund stock. The stock was acquired at an average price of $21.97 per share, for a total transaction of $68,436.55.
• On Monday, January 26th, Saba Capital Management, L.P. acquired 1,000 shares of Mexico Fund stock. The shares were bought at an average price of $21.50 per share, with a total value of $21,500.00.
• On Wednesday, January 21st, Saba Capital Management, L.P. acquired 550 shares of Mexico Fund stock. The shares were bought at an average cost of $21.29 per share, with a total value of $11,709.50.
• On Monday, January 12th, Saba Capital Management, L.P. bought 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. bought 10 shares of Mexico Fund stock. The shares were bought at an average cost of $20.24 per share, with a total value of $202.40.
• On Tuesday, December 16th, Saba Capital Management, L.P. purchased 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 bought at an average cost of $20.22 per share, for a total transaction of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. acquired 9,400 shares of Mexico Fund stock. The shares were bought at an average price 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 bought 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. acquired 1,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.70 per share, with a total value of $19,700.00.

Mexico Fund Stock Performance

Shares of MXF traded down $0.09 during midday trading on Tuesday, hitting $22.65. The stock had a trading volume of 81,429 shares, compared to its average volume of 68,475. The business has a 50-day simple moving average of $21.03 and a two-hundred day simple moving average of $19.61. Mexico Fund, Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $22.99.

Mexico Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.2%. The ex-dividend date was Wednesday, January 21st. This is a positive change from Mexico Fund’s previous quarterly dividend of $0.25.

Institutional Trading of Mexico Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. City of London Investment Management Co. Ltd. grew its holdings in shares of 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 buying an additional 305,864 shares in the last quarter. Marex Group plc acquired a new position in shares of Mexico Fund in the 4th quarter valued at about $1,926,000. North Ground Capital lifted its position in shares of Mexico Fund by 309.2% in the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock worth $2,544,000 after purchasing an additional 95,443 shares in the last quarter. Altium Capital Management LLC acquired a new stake in shares of Mexico Fund during the fourth quarter worth approximately $972,000. Finally, Verition Fund Management LLC boosted its holdings in shares of 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 worth $1,960,000 after purchasing 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.