Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 18,586 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 18,586 shares of Mexico Fund stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average price of $21.59 per share, for a total transaction of $401,271.74. Following the completion of the purchase, the insider directly owned 1,972,223 shares of the company’s stock, valued at $42,580,294.57. The trade was a 0.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large 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 Friday, May 15th, Saba Capital Management, L.P. bought 8,334 shares of Mexico Fund stock. The stock was bought at an average price of $22.00 per share, for a total transaction of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. bought 33,108 shares of Mexico Fund stock. The stock was bought at an average price of $22.00 per share, for a total transaction of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. purchased 15,148 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.13 per share, for a total transaction of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. purchased 9,000 shares of Mexico Fund stock. The shares were acquired at an average cost 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 shares were purchased at an average cost of $21.82 per share, for a total transaction of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. bought 217 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.33 per share, for a total transaction of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. bought 100,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.83 per share, for a total transaction of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. bought 3,505 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.86 per share, for a total transaction of $76,619.30.
• On Friday, April 17th, Saba Capital Management, L.P. purchased 179 shares of Mexico Fund stock. The stock was bought 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 stock was bought at an average price of $22.17 per share, with a total value of $48,774.00.

Mexico Fund Trading Down 0.4%

Shares of NYSE:MXF traded down $0.10 during midday trading on Tuesday, reaching $21.54. The company had a trading volume of 47,155 shares, compared to its average volume of 67,149. Mexico Fund, Inc. has a 1-year low of $16.22 and a 1-year high of $23.00. The company has a fifty day simple moving average of $21.26 and a two-hundred day simple moving average of $20.87.

Mexico Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were given a $0.35 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Investors Weigh In On Mexico Fund

A number of institutional investors have recently bought and sold shares of MXF. Saba Capital Management L.P. boosted its position in Mexico Fund by 32.4% during the 4th quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company’s stock worth $34,063,000 after acquiring an additional 413,606 shares during the period. Marex Group plc acquired a new stake in Mexico Fund during the 4th quarter worth about $1,926,000. North Ground Capital boosted its position in Mexico Fund by 309.2% during the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock worth $2,544,000 after acquiring an additional 95,443 shares during the period. Altium Capital Management LLC boosted its position in Mexico Fund by 165.5% during the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after acquiring an additional 79,898 shares during the period. Finally, Alpine Global Management LLC boosted its position 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.

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.