Saba Capital Management, L.P. Buys 15,148 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 15,148 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $22.13 per share, with a total value of $335,225.24. Following the completion of the transaction, the insider owned 1,912,195 shares of the company’s stock, valued at approximately $42,316,875.35. This trade represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 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 Tuesday, May 12th, Saba Capital Management, L.P. bought 9,000 shares of Mexico Fund stock. The shares were purchased at an average price of $22.01 per share, for a total transaction of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. bought 3,000 shares of Mexico Fund stock. The stock was acquired at an average price of $21.82 per share, for a total transaction of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. acquired 217 shares of Mexico Fund stock. The stock was bought at an average cost 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 bought at an average price of $21.83 per share, for a total transaction of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. acquired 3,505 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.86 per share, with a total value of $76,619.30.
• On Friday, April 17th, Saba Capital Management, L.P. acquired 179 shares of Mexico Fund stock. The shares were purchased at an average price of $22.00 per share, for a total transaction of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. bought 2,200 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.17 per share, for a total transaction of $48,774.00.
• On Monday, April 6th, Saba Capital Management, L.P. purchased 3,814 shares of Mexico Fund stock. The stock was acquired at an average cost 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 acquired at an average cost of $21.28 per share, with a total value of $229,824.00.
• On Friday, March 20th, Saba Capital Management, L.P. bought 2,871 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.83 per share, with a total value of $56,931.93.

Mexico Fund Stock Up 0.6%

MXF traded up $0.13 on Thursday, hitting $22.28. 14,100 shares of the company traded hands, compared to its average volume of 66,086. The company has a 50 day moving average of $21.24 and a 200-day moving average of $20.81. Mexico Fund, Inc. has a 12-month low of $15.98 and a 12-month high of $23.00.

Mexico Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Mexico Fund by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock valued at $20,548,000 after purchasing an additional 27,983 shares in the last quarter. Calamos Advisors LLC increased its holdings in shares of Mexico Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock valued at $446,000 after purchasing an additional 2,535 shares in the last quarter. Altium Capital Management LLC increased its holdings in shares of Mexico Fund by 165.5% in the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock valued at $2,683,000 after purchasing an additional 79,898 shares in the last quarter. Uhlmann Price Securities LLC grew its holdings in Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock worth $2,243,000 after acquiring an additional 2,013 shares during the period. Finally, Alpine Global Management LLC grew its holdings in Mexico Fund by 356.7% during the 4th quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock worth $1,237,000 after acquiring an additional 47,979 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.