Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires $254,761.94 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 13,451 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $18.94 per share, for a total transaction of $254,761.94. Following the transaction, the insider owned 1,550,425 shares of the company’s stock, valued at $29,365,049.50. This represents a 0.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, 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 transactions with the SEC.

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

• On Tuesday, November 18th, Saba Capital Management, L.P. bought 47,273 shares of Mexico Fund stock. The stock was acquired at an average cost of $19.15 per share, with a total value of $905,277.95.
• On Thursday, October 23rd, Saba Capital Management, L.P. purchased 506 shares of Mexico Fund stock. The stock was acquired at an average price of $18.64 per share, for a total transaction of $9,431.84.

Mexico Fund Stock Performance

Mexico Fund stock opened at $18.82 on Friday. The firm has a 50-day moving average of $19.12 and a 200-day moving average of $17.96. Mexico Fund, Inc. has a one year low of $12.99 and a one year high of $19.86.

Mexico Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 30th. Investors of record on Wednesday, October 22nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 5.3%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. City of London Investment Management Co. Ltd. boosted its holdings in shares of Mexico Fund by 9.3% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company’s stock valued at $63,406,000 after buying an additional 305,864 shares during the last quarter. SFI Advisors LLC raised its position in Mexico Fund by 342.4% during the first quarter. SFI Advisors LLC now owns 131,807 shares of the investment management company’s stock worth $1,876,000 after acquiring an additional 102,015 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Mexico Fund by 62.1% in the first quarter. Wolverine Asset Management LLC now owns 236,078 shares of the investment management company’s stock valued at $3,359,000 after acquiring an additional 90,483 shares during the last quarter. North Ground Capital bought a new position in shares of Mexico Fund in the 3rd quarter valued at about $608,000. Finally, Almitas Capital LLC grew its position in shares of Mexico Fund by 8.3% in the 1st quarter. Almitas Capital LLC now owns 344,264 shares of the investment management company’s stock valued at $4,899,000 after acquiring an additional 26,418 shares during the period.

Mexico Fund Company Profile

The Mexico Fund, Inc is a closed-ended equity mutual fund launched and managed by Impulsora del Fondo México, S.C. It primarily invests in public equity markets of Mexico. The fund seeks to invest its portfolio across diversified sectors. The Mexico Fund, Inc was formed in June 01, 1981 and is domiciled in Maryland, United States.