Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $19,700.00 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were purchased at an average cost of $19.70 per share, with a total value of $19,700.00. Following the completion of the acquisition, the insider directly owned 1,631,189 shares in the company, valued at $32,134,423.30. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% 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 Tuesday, December 9th, Saba Capital Management, L.P. acquired 628 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.74 per share, with a total value of $12,396.72.
• On Monday, December 8th, Saba Capital Management, L.P. bought 2,403 shares of Mexico Fund stock. The stock was acquired at an average cost of $19.63 per share, for a total transaction of $47,170.89.
• On Friday, December 5th, Saba Capital Management, L.P. purchased 15,492 shares of Mexico Fund stock. The shares were acquired at an average price of $19.59 per share, for a total transaction of $303,488.28.
• On Thursday, December 4th, Saba Capital Management, L.P. acquired 698 shares of Mexico Fund stock. The stock was acquired at an average price of $19.58 per share, with a total value of $13,666.84.
• On Tuesday, December 2nd, Saba Capital Management, L.P. bought 299 shares of Mexico Fund stock. The stock was acquired at an average price of $19.44 per share, with a total value of $5,812.56.
• On Monday, December 1st, Saba Capital Management, L.P. purchased 10,902 shares of Mexico Fund stock. The shares were bought at an average price of $19.45 per share, for a total transaction of $212,043.90.
• On Tuesday, November 25th, Saba Capital Management, L.P. acquired 1,869 shares of Mexico Fund stock. The stock was bought at an average price of $19.10 per share, with a total value of $35,697.90.
• On Friday, November 21st, Saba Capital Management, L.P. bought 200 shares of Mexico Fund stock. The shares were bought at an average price of $18.76 per share, for a total transaction of $3,752.00.
• On Tuesday, November 18th, Saba Capital Management, L.P. purchased 47,273 shares of Mexico Fund stock. The shares were bought at an average cost of $19.15 per share, for a total transaction of $905,277.95.
• On Monday, November 17th, Saba Capital Management, L.P. purchased 13,451 shares of Mexico Fund stock. The stock was bought at an average cost of $18.94 per share, with a total value of $254,761.94.

Mexico Fund Stock Down 0.4%

NYSE:MXF opened at $20.09 on Friday. The stock’s fifty day moving average price is $19.20 and its two-hundred day moving average price is $18.34. Mexico Fund, Inc. has a 52-week low of $13.10 and a 52-week high of $20.30.

Mexico Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 29th. Stockholders of record on Wednesday, January 21st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.0%. This is a boost from Mexico Fund’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, January 21st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. City of London Investment Management Co. Ltd. lifted its holdings in Mexico Fund by 9.3% in the second quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company’s stock valued at $63,406,000 after buying an additional 305,864 shares during the period. Almitas Capital LLC raised its position in shares of Mexico Fund by 8.3% during the 1st quarter. Almitas Capital LLC now owns 344,264 shares of the investment management company’s stock valued at $4,899,000 after acquiring an additional 26,418 shares during the last quarter. SFI Advisors LLC boosted its position in shares of Mexico Fund by 4.6% in the 2nd quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company’s stock worth $2,423,000 after purchasing an additional 6,121 shares during the last quarter. Quantedge Capital Pte Ltd grew its stake in shares of Mexico Fund by 3.7% during the second quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company’s stock worth $2,286,000 after purchasing an additional 4,650 shares during the period. Finally, Uhlmann Price Securities LLC increased its holdings in Mexico Fund by 2.5% in the third quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company’s stock valued at $2,050,000 after purchasing an additional 2,583 shares during the last quarter.

About Mexico Fund

The Mexico Fund, Inc is a closed-ended equity mutual fund launched and managed by Impulsora del Fondo México, S.C. It primarily invests in public equity markets of Mexico. The fund seeks to invest its portfolio across diversified sectors. The Mexico Fund, Inc was formed in June 01, 1981 and is domiciled in Maryland, United States.