Mexico Fund (NYSE:MXF) Major Shareholder Purchases $42,775.02 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 2,034 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were purchased at an average price of $21.03 per share, for a total transaction of $42,775.02. Following the purchase, the insider owned 2,312,612 shares in the company, valued at $48,634,230.36. This represents a 0.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major 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, September 16th, Saba Capital Management, L.P. bought 6,403 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.63 per share, with a total value of $132,093.89.
• On Tuesday, September 15th, Saba Capital Management, L.P. purchased 459 shares of Mexico Fund stock. The stock was acquired at an average price of $20.89 per share, with a total value of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. purchased 2,952 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.41 per share, for a total transaction of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The stock was acquired at an average price of $22.19 per share, for a total transaction of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. acquired 3,077 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.34 per share, with a total value of $65,663.18.
• On Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.56 per share, for a total transaction of $56,228.48.
• On Wednesday, July 22nd, Saba Capital Management, L.P. purchased 7,623 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.80 per share, for a total transaction of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. purchased 414 shares of Mexico Fund stock. The stock was acquired 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. acquired 200 shares of Mexico Fund stock. The shares were 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. acquired 7,631 shares of Mexico Fund stock. The shares were bought at an average price of $21.49 per share, for a total transaction of $163,990.19.

Mexico Fund Trading Up 0.7%

Shares of Mexico Fund stock traded up $0.15 on Tuesday, hitting $21.06. 19,096 shares of the company traded hands, compared to its average volume of 52,867. Mexico Fund, Inc. has a 52 week low of $18.30 and a 52 week high of $23.00. The business has a 50-day simple moving average of $21.57 and a 200 day simple moving average of $21.52.

Mexico Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Wednesday, October 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Altium Capital Management LLC boosted its stake in Mexico Fund by 165.5% during 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 buying an additional 79,898 shares during the last quarter. North Ground Capital bought a new stake in Mexico Fund in the 2nd quarter worth approximately $2,981,931. Saba Capital Management L.P. raised its holdings in shares of Mexico Fund by 4.3% during the 1st quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock worth $36,927,000 after acquiring an additional 73,032 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Mexico Fund during the 2nd quarter worth approximately $2,266,000. Finally, Almitas Capital LLC purchased a new stake in shares of Mexico Fund during the 2nd quarter worth approximately $3,736,000.

Mexico Fund Company Profile

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico’s economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.