Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 13,804 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average price of $20.54 per share, for a total transaction of $283,534.16. Following the acquisition, the insider directly owned 2,478,829 shares of the company’s stock, valued at $50,915,147.66. The trade was a 0.56% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large 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. acquired 31,698 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.33 per share, for a total transaction of $676,118.34.
- On Tuesday, November 10th, Saba Capital Management, L.P. bought 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. bought 4,365 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.06 per share, with a total value of $91,926.90.
- On Friday, November 6th, Saba Capital Management, L.P. bought 18,250 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.75 per share, with a total value of $378,687.50.
- On Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The shares were acquired at an average price of $20.72 per share, for a total transaction of $499,662.80.
- On Wednesday, November 4th, Saba Capital Management, L.P. purchased 15,011 shares of Mexico Fund stock. The shares were acquired at an average price of $20.95 per share, for a total transaction of $314,480.45.
- On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were acquired at an average price of $20.51 per share, for a total transaction of $4,102.00.
- On Friday, October 30th, Saba Capital Management, L.P. purchased 15,143 shares of Mexico Fund stock. The shares were acquired at an average price of $20.25 per share, for a total transaction of $306,645.75.
- On Thursday, October 29th, Saba Capital Management, L.P. acquired 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. acquired 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%
Shares of NYSE:MXF opened at $21.11 on Friday. Mexico Fund, Inc. has a 1 year low of $18.62 and a 1 year high of $23.00. The firm has a fifty day moving average price of $20.68 and a 200 day moving average price of $21.42.
Mexico Fund Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.6%. The ex-dividend date was Wednesday, October 21st.
Institutional Trading of Mexico Fund
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Mexico Fund during the 2nd quarter worth about $2,266,000. North Ground Capital acquired a new position in shares of Mexico Fund during the 2nd quarter valued at about $2,981,931. Saba Capital Management L.P. increased its holdings in shares of Mexico Fund by 4.3% during the 1st quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock valued at $36,927,000 after acquiring an additional 73,032 shares during the last quarter. Almitas Capital LLC bought a new position in shares of Mexico Fund in the 2nd quarter valued at approximately $3,736,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Mexico Fund by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock valued at $20,548,000 after acquiring an additional 27,983 shares in the last quarter.
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.
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