Saba Capital Management, L.P. Acquires 7,166 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 7,166 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average price of $21.67 per share, for a total transaction of $155,287.22. Following the completion of the transaction, the insider owned 2,006,913 shares in the company, valued at $43,489,804.71. The trade was a 0.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Wednesday, May 20th, Saba Capital Management, L.P. acquired 4,610 shares of Mexico Fund stock. The stock was acquired at an average price of $21.68 per share, with a total value of $99,944.80.
• On Tuesday, May 19th, Saba Capital Management, L.P. acquired 22,914 shares of Mexico Fund stock. The stock was acquired 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 stock was acquired 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. bought 8,334 shares of Mexico Fund stock. The shares were acquired 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 acquired at an average price of $22.00 per share, with a total value of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. purchased 15,148 shares of Mexico Fund stock. The stock was acquired 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. purchased 9,000 shares of Mexico Fund stock. The shares were bought at an average price of $22.01 per share, for a total transaction of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. acquired 3,000 shares of Mexico Fund stock. The shares were bought 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. acquired 217 shares of Mexico Fund stock. The stock was bought at an average price 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.

Mexico Fund Trading Up 1.0%

Shares of MXF stock opened at $22.31 on Thursday. Mexico Fund, Inc. has a 1 year low of $16.43 and a 1 year high of $23.00. The firm’s 50 day moving average is $21.42 and its 200-day moving average is $20.99.

Mexico Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.3%. The ex-dividend date was Wednesday, April 22nd.

Institutional Investors Weigh In On Mexico Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. boosted its holdings in Mexico Fund by 32.4% in the fourth 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 acquiring an additional 413,606 shares during the last quarter. Marex Group plc bought a new stake in Mexico Fund during the 4th quarter worth about $1,926,000. North Ground Capital lifted 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 valued at $2,544,000 after purchasing an additional 95,443 shares during the period. Altium Capital Management LLC lifted 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 valued at $2,683,000 after purchasing an additional 79,898 shares during the period. Finally, Alpine Global Management LLC boosted its stake 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 purchasing an additional 47,979 shares during the last quarter.

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.