Saba Capital Management, L.P. Acquires 18,466 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 18,466 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $22.17 per share, for a total transaction of $409,391.22. Following the purchase, the insider owned 2,091,089 shares of the company’s stock, valued at approximately $46,359,443.13. The trade was a 0.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 Thursday, May 28th, Saba Capital Management, L.P. acquired 6,700 shares of Mexico Fund stock. The shares were bought at an average cost of $22.16 per share, for a total transaction of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. acquired 44,608 shares of Mexico Fund stock. The shares were bought at an average cost of $22.27 per share, for a total transaction of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. acquired 14,402 shares of Mexico Fund stock. The shares were bought at an average cost of $21.99 per share, for a total transaction of $316,699.98.
• On Thursday, May 21st, Saba Capital Management, L.P. acquired 7,166 shares of Mexico Fund stock. The shares were bought at an average cost of $21.67 per share, for a total transaction of $155,287.22.
• On Wednesday, May 20th, Saba Capital Management, L.P. acquired 4,610 shares of Mexico Fund stock. The shares were bought at an average cost of $21.68 per share, for a total transaction of $99,944.80.
• On Tuesday, May 19th, Saba Capital Management, L.P. acquired 22,914 shares of Mexico Fund stock. The shares were bought at an average cost of $21.58 per share, for a total transaction of $494,484.12.
• On Monday, May 18th, Saba Capital Management, L.P. acquired 18,586 shares of Mexico Fund stock. The shares were bought at an average cost of $21.59 per share, for a total transaction of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. acquired 8,334 shares of Mexico Fund stock. The shares were bought at an average cost of $22.00 per share, for a total transaction of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. acquired 33,108 shares of Mexico Fund stock. The shares were bought at an average cost of $22.00 per share, for a total transaction of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. acquired 15,148 shares of Mexico Fund stock. The shares were bought at an average cost of $22.13 per share, for a total transaction of $335,225.24.

Mexico Fund Stock Down 1.5%

NYSE:MXF traded down $0.33 during mid-day trading on Monday, reaching $21.93. The company’s stock had a trading volume of 15,336 shares, compared to its average volume of 65,767. The company’s fifty day simple moving average is $21.49 and its two-hundred day simple moving average is $21.04. Mexico Fund, Inc. has a twelve month low of $16.43 and a twelve month high of $23.00.

Mexico Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Wednesday, April 22nd.

Institutional Investors Weigh In On Mexico Fund

Hedge funds have recently modified their holdings of the stock. Altium Capital Management LLC acquired a new position in shares of Mexico Fund in the 4th quarter valued at approximately $972,000. Farther Finance Advisors LLC increased its holdings in shares of Mexico Fund by 775.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 1,194 shares during the last quarter. Uhlmann Price Securities LLC boosted its position in Mexico Fund by 1.0% during the 4th quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock valued at $2,118,000 after purchasing an additional 1,074 shares during the period. Alpine Global Management LLC acquired a new position in Mexico Fund during the 3rd quarter valued at approximately $265,000. Finally, Scotia Capital Inc. boosted its position in Mexico Fund by 127.8% during the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after purchasing an additional 14,241 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.