Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 31,698 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 31,698 shares of Mexico Fund stock in a transaction on Wednesday, November 11th. The stock was bought at an average price of $21.33 per share, for a total transaction of $676,118.34. Following the completion of the acquisition, the insider owned 2,576,030 shares in the company, valued at $54,946,719.90. The trade was a 1.25% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 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 Tuesday, November 10th, Saba Capital Management, L.P. purchased 3,762 shares of Mexico Fund stock. The stock was bought at an average price of $21.05 per share, for a total transaction of $79,190.10.
• On Monday, November 9th, Saba Capital Management, L.P. acquired 4,365 shares of Mexico Fund stock. The shares were bought 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. acquired 18,250 shares of Mexico Fund stock. The shares were bought 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. acquired 24,115 shares of Mexico Fund stock. The shares were purchased 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 purchased at an average price of $20.95 per share, with a total value of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. bought 13,804 shares of Mexico Fund stock. The stock was purchased 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 stock was purchased 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. bought 15,143 shares of Mexico Fund stock. The stock was purchased 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. bought 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. purchased 1,121 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.13 per share, with a total value of $22,565.73.

Mexico Fund Stock Performance

NYSE MXF opened at $21.11 on Friday. The business has a 50 day simple moving average of $20.68 and a two-hundred 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Wednesday, October 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Calamos Advisors LLC increased its position in Mexico Fund by 6.7% in 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 during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Mexico Fund during the second quarter valued at $33,000. Uhlmann Price Securities LLC lifted its position 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 valued at $2,304,000 after purchasing an additional 2,544 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its position in Mexico Fund by 13.2% during the third quarter. Beverly Hills Private Wealth LLC now owns 41,537 shares of the investment management company’s stock valued at $847,000 after purchasing an additional 4,855 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of Mexico Fund by 25.8% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company’s stock worth $774,000 after buying an additional 7,774 shares in the last quarter.

Mexico Fund Company Profile

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.