Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 3,077 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 3,077 shares of Mexico Fund stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average cost of $21.34 per share, with a total value of $65,663.18. Following the completion of the acquisition, the insider owned 2,291,228 shares of the company’s stock, valued at $48,894,805.52. The trade was a 0.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 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 Tuesday, July 28th, Saba Capital Management, L.P. purchased 2,608 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.56 per share, with a total value of $56,228.48.
• On Wednesday, July 22nd, Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock. The shares were acquired at an average price of $21.80 per share, with a total value of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. acquired 414 shares of Mexico Fund stock. The shares were bought at an average price of $21.11 per share, with a total value of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was bought at an average cost of $21.52 per share, with a total value of $4,304.00.
• On Monday, July 20th, Saba Capital Management, L.P. bought 7,631 shares of Mexico Fund stock. The stock was purchased at an average price of $21.49 per share, for a total transaction of $163,990.19.
• On Wednesday, July 8th, Saba Capital Management, L.P. acquired 522 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.26 per share, for a total transaction of $11,097.72.
• On Tuesday, July 7th, Saba Capital Management, L.P. purchased 1,828 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.73 per share, for a total transaction of $39,722.44.
• On Wednesday, June 24th, Saba Capital Management, L.P. purchased 5,100 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.31 per share, for a total transaction of $108,681.00.
• On Tuesday, June 23rd, Saba Capital Management, L.P. acquired 15,051 shares of Mexico Fund stock. The shares were bought at an average cost of $21.52 per share, with a total value of $323,897.52.
• On Thursday, June 18th, Saba Capital Management, L.P. acquired 1,261 shares of Mexico Fund stock. The shares were bought at an average price of $22.19 per share, for a total transaction of $27,981.59.

Mexico Fund Price Performance

Shares of MXF traded up $0.10 during mid-day trading on Friday, hitting $21.80. The company had a trading volume of 30,293 shares, compared to its average volume of 58,094. Mexico Fund, Inc. has a 1-year low of $17.41 and a 1-year high of $23.00. The business’s 50-day simple moving average is $21.73 and its 200-day simple moving average is $21.62.

Mexico Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.4%.

Institutional Trading of Mexico Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Saba Capital Management L.P. increased its holdings in Mexico Fund by 32.4% in the 4th 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 purchasing an additional 413,606 shares in the last quarter. Marex Group plc acquired a new position in shares of Mexico Fund during the fourth quarter worth about $1,926,000. North Ground Capital boosted 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 buying an additional 95,443 shares during the period. Altium Capital Management LLC boosted its position 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 worth $2,683,000 after buying an additional 79,898 shares during the period. Finally, Alpine Global Management LLC grew its stake in shares of Mexico Fund by 356.7% in the fourth quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock valued at $1,237,000 after buying an additional 47,979 shares in 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.