Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $110,527.20 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 5,117 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $21.60 per share, for a total transaction of $110,527.20. Following the acquisition, the insider directly owned 2,205,185 shares in the company, valued at approximately $47,631,996. The trade was a 0.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, June 12th, Saba Capital Management, L.P. purchased 29,500 shares of Mexico Fund stock. The stock was bought at an average cost of $22.30 per share, for a total transaction of $657,850.00.
• On Wednesday, June 10th, Saba Capital Management, L.P. acquired 11,081 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.39 per share, with a total value of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. acquired 3,600 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.14 per share, with a total value of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. acquired 19,906 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.64 per share, with a total value of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. purchased 32,102 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.61 per share, with a total value of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.16 per share, with a total value of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. purchased 9,633 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.24 per share, with a total value of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. purchased 708 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.90 per share, with a total value of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. acquired 18,466 shares of Mexico Fund stock. The stock was bought at an average price of $22.17 per share, with a total value of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. acquired 6,700 shares of Mexico Fund stock. The stock was bought at an average price of $22.16 per share, with a total value of $148,472.00.

Mexico Fund Stock Performance

Shares of NYSE MXF opened at $22.18 on Thursday. Mexico Fund, Inc. has a 12 month low of $16.43 and a 12 month high of $23.00. The firm has a fifty day simple moving average of $21.81 and a two-hundred day simple moving average of $21.28.

Mexico Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Wednesday, July 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MXF. Saba Capital Management L.P. increased its stake 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 worth $34,063,000 after acquiring an additional 413,606 shares in the last quarter. Marex Group plc bought a new position in shares of Mexico Fund in the 4th quarter worth about $1,926,000. North Ground Capital increased its stake 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 worth $2,544,000 after acquiring an additional 95,443 shares in the last quarter. Altium Capital Management LLC increased its stake 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 worth $2,683,000 after acquiring an additional 79,898 shares in the last quarter. Finally, Alpine Global Management LLC increased its stake in Mexico Fund by 356.7% during 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 in 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.