Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases 2,871 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 2,871 shares of Mexico Fund stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of $19.83 per share, for a total transaction of $56,931.93. Following the completion of the purchase, the insider directly owned 1,747,033 shares in the company, valued at approximately $34,643,664.39. This represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, March 18th, Saba Capital Management, L.P. bought 5,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.38 per share, with a total value of $101,900.00.
• On Friday, March 13th, Saba Capital Management, L.P. purchased 2,600 shares of Mexico Fund stock. The stock was acquired at an average price of $20.21 per share, for a total transaction of $52,546.00.
• On Thursday, March 12th, Saba Capital Management, L.P. purchased 456 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.35 per share, for a total transaction of $9,279.60.
• On Tuesday, March 10th, Saba Capital Management, L.P. acquired 1,005 shares of Mexico Fund stock. The shares were acquired at an average price of $20.94 per share, with a total value of $21,044.70.
• On Thursday, March 5th, Saba Capital Management, L.P. acquired 4,480 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.34 per share, with a total value of $95,603.20.
• On Friday, February 13th, Saba Capital Management, L.P. bought 32,126 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.69 per share, for a total transaction of $728,938.94.
• On Thursday, January 29th, Saba Capital Management, L.P. acquired 3,115 shares of Mexico Fund stock. The stock was bought at an average cost 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, for a total transaction of $21,500.00.
• On Wednesday, January 21st, Saba Capital Management, L.P. bought 550 shares of Mexico Fund stock. The stock was 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 shares were bought at an average price of $20.45 per share, for a total transaction of $51,534.00.

Mexico Fund Trading Up 1.8%

Shares of MXF traded up $0.35 during mid-day trading on Monday, reaching $19.96. 30,817 shares of the stock traded hands, compared to its average volume of 74,168. The stock has a fifty day simple moving average of $21.62 and a 200 day simple moving average of $20.18. Mexico Fund, Inc. has a 12-month low of $13.10 and a 12-month high of $23.00.

Mexico Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Wednesday, April 22nd.

Hedge Funds Weigh In On Mexico Fund

Hedge funds have recently bought and sold shares of the company. Saba Capital Management L.P. increased its holdings in Mexico Fund by 32.4% in the fourth quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company’s stock valued at $34,063,000 after buying an additional 413,606 shares during the last quarter. Quantedge Capital Pte Ltd lifted its holdings in Mexico Fund by 3.7% during the 2nd quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company’s stock worth $2,286,000 after buying an additional 4,650 shares during the last quarter. North Ground Capital grew its position in shares of Mexico Fund by 309.2% in the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock worth $2,544,000 after acquiring an additional 95,443 shares in the last quarter. Uhlmann Price Securities LLC grew its position in shares of Mexico Fund by 1.0% in the 4th quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock worth $2,118,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of Mexico Fund by 21.7% in the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after acquiring an additional 17,747 shares during the last quarter.

Mexico Fund Company Profile

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.