Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 550 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 550 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was bought at an average cost of $21.29 per share, with a total value of $11,709.50. Following the completion of the acquisition, the insider directly owned 1,694,380 shares of the company’s stock, valued at approximately $36,073,350.20. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large 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 Monday, January 12th, Saba Capital Management, L.P. bought 2,520 shares of Mexico Fund stock. The shares were bought at an average price of $20.45 per share, with a total value of $51,534.00.
• On Friday, January 9th, Saba Capital Management, L.P. purchased 10 shares of Mexico Fund stock. The shares were acquired at an average price of $20.24 per share, for a total transaction of $202.40.
• On Tuesday, December 16th, Saba Capital Management, L.P. acquired 16,228 shares of Mexico Fund stock. The stock was bought at an average price of $19.95 per share, with a total value of $323,748.60.
• On Monday, December 15th, Saba Capital Management, L.P. purchased 28,475 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.22 per share, with a total value of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. bought 9,400 shares of Mexico Fund stock. The shares were bought at an average cost of $19.91 per share, for a total transaction of $187,154.00.
• On Thursday, December 11th, Saba Capital Management, L.P. acquired 6,008 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.20 per share, for a total transaction of $121,361.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.70 per share, with a total value of $19,700.00.
• On Tuesday, December 9th, Saba Capital Management, L.P. purchased 628 shares of Mexico Fund stock. The shares were purchased at an average price of $19.74 per share, for a total transaction of $12,396.72.
• On Monday, December 8th, Saba Capital Management, L.P. purchased 2,403 shares of Mexico Fund stock. The stock was acquired at an average price of $19.63 per share, with a total value of $47,170.89.
• On Friday, December 5th, Saba Capital Management, L.P. acquired 15,492 shares of Mexico Fund stock. The stock was acquired at an average price of $19.59 per share, for a total transaction of $303,488.28.

Mexico Fund Stock Performance

Shares of MXF traded up $0.15 during mid-day trading on Thursday, reaching $21.39. The company had a trading volume of 25,418 shares, compared to its average volume of 57,386. The firm has a 50-day moving average price of $20.01 and a 200 day moving average price of $19.00. Mexico Fund, Inc. has a 52 week low of $13.10 and a 52 week high of $21.78.

Mexico Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Wednesday, January 21st. This is a positive change from Mexico Fund’s previous quarterly dividend of $0.25.

Institutional Investors Weigh In On Mexico Fund

A number of large investors have recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC increased its holdings in Mexico Fund by 92.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock worth $49,000 after acquiring an additional 1,200 shares in the last quarter. Scotia Capital Inc. bought a new stake in Mexico Fund during the 2nd quarter valued at $196,000. Alpine Global Management LLC purchased a new position in shares of Mexico Fund in the 3rd quarter worth approximately $265,000. Calamos Advisors LLC increased its position in shares of Mexico Fund by 21.7% during the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock worth $280,000 after purchasing an additional 2,535 shares in the last quarter. Finally, North Ground Capital purchased a new stake in Mexico Fund during the 3rd quarter worth approximately $608,000.

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.