Mexico Fund (NYSE:MXF) Major Shareholder Buys $499,662.80 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock in a transaction that occurred on Thursday, November 5th. The shares were acquired at an average price of $20.72 per share, for a total transaction of $499,662.80. Following the acquisition, the insider owned 2,517,955 shares in the company, valued at $52,172,027.60. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% 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, November 11th, Saba Capital Management, L.P. purchased 31,698 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.33 per share, with a total value of $676,118.34.
• On Tuesday, November 10th, Saba Capital Management, L.P. acquired 3,762 shares of Mexico Fund stock. The stock was acquired at an average price of $21.05 per share, with a total value of $79,190.10.
• On Monday, November 9th, Saba Capital Management, L.P. acquired 4,365 shares of Mexico Fund stock. The stock was acquired at an average price of $21.06 per share, for a total transaction of $91,926.90.
• On Friday, November 6th, Saba Capital Management, L.P. acquired 18,250 shares of Mexico Fund stock. The stock was acquired at an average price of $20.75 per share, for a total transaction of $378,687.50.
• On Wednesday, November 4th, Saba Capital Management, L.P. bought 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. bought 13,804 shares of Mexico Fund stock. The shares were acquired 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. bought 200 shares of Mexico Fund stock. The shares were acquired at an average price of $20.51 per share, with a total value of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. purchased 15,143 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.25 per share, with a total value of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.11 per share, with a total value of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.13 per share, with a total value of $22,565.73.

Mexico Fund Trading Down 0.6%

NYSE:MXF opened at $21.11 on Friday. The firm’s fifty day simple moving average is $20.68 and its 200 day simple moving average is $21.42. Mexico Fund, Inc. has a twelve month low of $18.62 and a twelve month high of $23.00.

Mexico Fund Announces Dividend

The business also recently announced 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%.

Hedge Funds Weigh In On Mexico Fund

Several hedge funds and other institutional investors have recently modified their holdings of MXF. Almitas Capital LLC purchased a new stake in Mexico Fund in the second quarter worth about $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund during the 2nd quarter worth approximately $2,981,931. Public Employees Retirement System of Ohio purchased a new position in shares of Mexico Fund during the 2nd quarter worth approximately $2,266,000. Saba Capital Management L.P. raised its position in shares of Mexico Fund by 4.3% in the 1st quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock worth $36,927,000 after acquiring an additional 73,032 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Mexico Fund in the 2nd quarter worth approximately $875,000.

About Mexico Fund

The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.