Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $65,460.00 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was acquired at an average price of $21.82 per share, with a total value of $65,460.00. Following the acquisition, the insider directly owned 1,888,047 shares of the company’s stock, valued at approximately $41,197,185.54. This represents a 0.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own more than 10% 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 Friday, May 1st, Saba Capital Management, L.P. purchased 217 shares of Mexico Fund stock. The shares were purchased at an average price of $21.33 per share, with a total value of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. purchased 100,000 shares of Mexico Fund stock. The shares were purchased at an average price of $21.83 per share, with a total value of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. purchased 3,505 shares of Mexico Fund stock. The shares were purchased at an average price of $21.86 per share, with a total value of $76,619.30.
• On Friday, April 17th, Saba Capital Management, L.P. purchased 179 shares of Mexico Fund stock. The shares were purchased at an average price of $22.00 per share, with a total value of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. purchased 2,200 shares of Mexico Fund stock. The shares were purchased at an average price of $22.17 per share, with a total value of $48,774.00.
• On Monday, April 6th, Saba Capital Management, L.P. purchased 3,814 shares of Mexico Fund stock. The shares were purchased at an average price of $21.23 per share, with a total value of $80,971.22.
• On Thursday, April 2nd, Saba Capital Management, L.P. purchased 10,800 shares of Mexico Fund stock. The shares were purchased at an average price of $21.28 per share, with a total value of $229,824.00.
• On Friday, March 20th, Saba Capital Management, L.P. purchased 2,871 shares of Mexico Fund stock. The shares were purchased at an average price of $19.83 per share, with a total value of $56,931.93.
• On Wednesday, March 18th, Saba Capital Management, L.P. purchased 5,000 shares of Mexico Fund stock. The shares were purchased at an average price 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 shares were purchased at an average price of $20.21 per share, with a total value of $52,546.00.

Mexico Fund Trading Up 1.0%

NYSE MXF opened at $22.15 on Thursday. The firm has a 50 day moving average of $21.24 and a two-hundred day moving average of $20.81. Mexico Fund, Inc. has a 52 week low of $15.98 and a 52 week high of $23.00.

Mexico Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were issued a $0.35 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.3%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MXF. Farther Finance Advisors LLC boosted its holdings in shares of Mexico Fund by 775.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after buying an additional 1,194 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Mexico Fund by 109.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after buying an additional 2,735 shares in the last quarter. Alpine Global Management LLC acquired a new position in shares of Mexico Fund in the 3rd quarter valued at $265,000. Calamos Advisors LLC boosted its holdings in shares of Mexico Fund by 32.1% in the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after buying an additional 4,563 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of Mexico Fund by 127.8% in the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after buying an additional 14,241 shares in the last quarter.

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.