Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 15,143 shares of the company’s stock in a transaction on Friday, October 30th. The shares were purchased at an average cost of $20.25 per share, for a total transaction of $306,645.75. Following the acquisition, the insider owned 2,464,825 shares of the company’s stock, valued at approximately $49,912,706.25. The trade was a 0.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock 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, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The stock was acquired at an average price of $20.72 per share, with a total value of $499,662.80.
- On Wednesday, November 4th, Saba Capital Management, L.P. acquired 15,011 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.95 per share, for a total transaction of $314,480.45.
- On Tuesday, November 3rd, Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock. The shares were bought at an average cost of $20.54 per share, for a total transaction of $283,534.16.
- On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were bought at an average price of $20.51 per share, with a total value of $4,102.00.
- On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The stock was purchased at an average price of $20.11 per share, for a total transaction of $480,649.11.
- On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,121 shares of Mexico Fund stock. The shares were purchased at an average price of $20.13 per share, with a total value of $22,565.73.
- On Thursday, October 22nd, Saba Capital Management, L.P. bought 2,000 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.14 per share, for a total transaction of $40,280.00.
- On Wednesday, October 21st, Saba Capital Management, L.P. purchased 16,035 shares of Mexico Fund stock. The shares were purchased at an average price of $20.42 per share, for a total transaction of $327,434.70.
- On Wednesday, October 14th, Saba Capital Management, L.P. acquired 12,791 shares of Mexico Fund stock. The stock was acquired at an average cost of $19.88 per share, for a total transaction of $254,285.08.
- On Monday, October 5th, Saba Capital Management, L.P. bought 25,900 shares of Mexico Fund stock. The shares were acquired at an average price of $20.09 per share, for a total transaction of $520,331.00.
Mexico Fund Stock Up 0.1%
Shares of MXF traded up $0.02 during mid-day trading on Tuesday, hitting $21.06. The company’s stock had a trading volume of 7,704 shares, compared to its average volume of 50,814. The firm has a 50-day simple moving average of $20.71 and a 200 day simple moving average of $21.42. Mexico Fund, Inc. has a 1-year low of $18.62 and a 1-year high of $23.00.
Mexico Fund Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC boosted its stake in shares of Mexico Fund by 13.2% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 41,537 shares of the investment management company’s stock worth $847,000 after acquiring an additional 4,855 shares in the last quarter. Uhlmann Price Securities LLC raised its holdings in Mexico Fund by 2.3% during the third quarter. Uhlmann Price Securities LLC now owns 113,006 shares of the investment management company’s stock worth $2,304,000 after purchasing an additional 2,544 shares during the last quarter. Calamos Advisors LLC boosted its position in Mexico Fund by 6.7% during the third quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company’s stock worth $343,000 after purchasing an additional 1,050 shares in the last quarter. City of London Investment Management Co. Ltd. grew its holdings in Mexico Fund by 0.6% in the third quarter. City of London Investment Management Co. Ltd. now owns 3,230,491 shares of the investment management company’s stock valued at $65,870,000 after purchasing an additional 19,166 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of Mexico Fund by 25.8% in the third quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company’s stock valued at $774,000 after buying an additional 7,774 shares in the last quarter.
Mexico Fund Company Profile
The Mexico Fund, Inc. (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.
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