Saba Capital Management, L.P. Acquires 33,108 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 33,108 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $22.00 per share, with a total value of $728,376.00. Following the transaction, the insider directly owned 1,945,303 shares in the company, valued at approximately $42,796,666. The trade was a 1.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 Monday, May 18th, Saba Capital Management, L.P. bought 18,586 shares of Mexico Fund stock. The stock was bought at an average cost of $21.59 per share, with a total value of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. bought 8,334 shares of Mexico Fund stock. The stock was bought at an average cost of $22.00 per share, with a total value of $183,348.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. bought 15,148 shares of Mexico Fund stock. The stock was bought at an average cost of $22.13 per share, with a total value of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. bought 9,000 shares of Mexico Fund stock. The stock was bought at an average cost of $22.01 per share, with a total value of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. bought 3,000 shares of Mexico Fund stock. The stock was bought at an average cost of $21.82 per share, with a total value of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. bought 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. bought 100,000 shares of Mexico Fund stock. The stock was bought at an average cost of $21.83 per share, with a total value of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. bought 3,505 shares of Mexico Fund stock. The stock was bought 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. bought 179 shares of Mexico Fund stock. The stock was bought at an average cost 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 acquired at an average cost of $22.17 per share, with a total value of $48,774.00.

Mexico Fund Stock Down 0.4%

NYSE MXF opened at $21.56 on Wednesday. Mexico Fund, Inc. has a one year low of $16.22 and a one year high of $23.00. The company has a 50-day simple moving average of $21.27 and a 200-day simple moving average of $20.88.

Mexico Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MXF. Saba Capital Management L.P. boosted its holdings in shares of 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 buying an additional 413,606 shares during the period. Marex Group plc acquired a new position in shares of Mexico Fund in the 4th quarter valued at about $1,926,000. North Ground Capital boosted its holdings in shares of Mexico Fund by 309.2% in the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock valued at $2,544,000 after buying an additional 95,443 shares during the period. Altium Capital Management LLC boosted its holdings in shares of Mexico Fund by 165.5% in the 1st 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 period. Finally, Alpine Global Management LLC boosted its holdings in shares of Mexico Fund by 356.7% in the 4th 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 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.