Mexico Fund (NYSE:MXF) Major Shareholder Acquires 7,623 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock in a transaction that occurred on Wednesday, July 22nd. The stock was purchased at an average price of $21.80 per share, with a total value of $166,181.40. Following the purchase, the insider directly owned 2,285,129 shares in the company, valued at $49,815,812.20. The trade was a 0.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% 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, July 23rd, Saba Capital Management, L.P. purchased 414 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.11 per share, with a total value of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were purchased at an average price of $21.52 per share, for a total transaction of $4,304.00.
• On Monday, July 20th, Saba Capital Management, L.P. acquired 7,631 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.49 per share, for a total transaction of $163,990.19.
• On Wednesday, July 8th, Saba Capital Management, L.P. acquired 522 shares of Mexico Fund stock. The stock was purchased at an average price of $21.26 per share, with a total value of $11,097.72.
• On Tuesday, July 7th, Saba Capital Management, L.P. acquired 1,828 shares of Mexico Fund stock. The stock was purchased at an average price of $21.73 per share, with a total value of $39,722.44.
• On Wednesday, June 24th, Saba Capital Management, L.P. bought 5,100 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.31 per share, with a total value of $108,681.00.
• On Tuesday, June 23rd, Saba Capital Management, L.P. bought 15,051 shares of Mexico Fund stock. The stock was purchased at an average price of $21.52 per share, for a total transaction of $323,897.52.
• On Thursday, June 18th, Saba Capital Management, L.P. bought 1,261 shares of Mexico Fund stock. The stock was purchased at an average price of $22.19 per share, for a total transaction of $27,981.59.
• On Wednesday, June 17th, Saba Capital Management, L.P. purchased 4,037 shares of Mexico Fund stock. The stock was acquired at an average price of $22.23 per share, for a total transaction of $89,742.51.
• On Friday, June 12th, Saba Capital Management, L.P. purchased 29,500 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.30 per share, with a total value of $657,850.00.

Mexico Fund Stock Performance

MXF traded up $0.07 during trading on Tuesday, reaching $21.50. 25,849 shares of the company’s stock were exchanged, compared to its average volume of 58,295. Mexico Fund, Inc. has a 1 year low of $17.41 and a 1 year high of $23.00. The company’s fifty day simple moving average is $21.74 and its 200-day simple moving average is $21.60.

Mexico Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be paid a $0.35 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its position in Mexico Fund by 775.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock worth $27,000 after purchasing an additional 1,194 shares during the period. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Mexico Fund by 109.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after buying an additional 2,735 shares during the period. Calamos Advisors LLC lifted its holdings in shares of Mexico Fund by 32.1% in the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after buying an additional 4,563 shares during the period. Scotia Capital Inc. boosted its stake in shares of Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after buying an additional 14,241 shares during the last quarter. Finally, Altium Capital Management LLC purchased a new stake in shares of Mexico Fund in the fourth quarter worth about $972,000.

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.