Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $378,687.50 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 18,250 shares of the company’s stock in a transaction on Friday, November 6th. The shares were purchased at an average price of $20.75 per share, for a total transaction of $378,687.50. Following the purchase, the insider owned 2,536,205 shares in the company, valued at approximately $52,626,253.75. The trade was a 0.72% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, November 11th, Saba Capital Management, L.P. acquired 31,698 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.33 per share, for a total transaction of $676,118.34.
• On Tuesday, November 10th, Saba Capital Management, L.P. acquired 3,762 shares of Mexico Fund stock. The stock was purchased at an average price of $21.05 per share, with a total value of $79,190.10.
• On Monday, November 9th, Saba Capital Management, L.P. bought 4,365 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.06 per share, with a total value of $91,926.90.
• On Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.72 per share, with a total value of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. bought 15,011 shares of Mexico Fund stock. The stock was purchased at an average price of $20.95 per share, for a total transaction of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. bought 13,804 shares of Mexico Fund stock. The stock was purchased at an average price of $20.54 per share, for a total transaction of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was acquired at an average price of $20.51 per share, for a total transaction of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. purchased 15,143 shares of Mexico Fund stock. The stock was acquired at an average price of $20.25 per share, for a total transaction of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.11 per share, with a total value of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.13 per share, with a total value of $22,565.73.

Mexico Fund Stock Performance

Shares of NYSE MXF opened at $21.11 on Friday. Mexico Fund, Inc. has a 12 month low of $18.62 and a 12 month high of $23.00. The company has a 50 day simple moving average of $20.68 and a two-hundred day simple moving average of $21.42.

Mexico Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st were paid a $0.35 dividend. The ex-dividend date was Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Mexico Fund during the second quarter valued at $2,266,000. North Ground Capital purchased a new stake in Mexico Fund in the second quarter valued at $2,981,931. Saba Capital Management L.P. boosted its holdings in Mexico Fund by 4.3% in the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock valued at $36,927,000 after purchasing an additional 73,032 shares during the last quarter. Almitas Capital LLC acquired a new stake in Mexico Fund during the 2nd quarter worth about $3,736,000. Finally, Allspring Global Investments Holdings LLC grew its position in Mexico Fund by 2.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after purchasing an additional 27,983 shares during the period.

Mexico Fund Company Profile

The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.