Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 23,901 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 23,901 shares of the company’s stock in a transaction dated Thursday, October 29th. The stock was acquired at an average price of $20.11 per share, for a total transaction of $480,649.11. Following the acquisition, the insider owned 2,449,682 shares in the company, valued at approximately $49,263,105.02. The trade was a 0.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, November 9th, Saba Capital Management, L.P. bought 4,365 shares of Mexico Fund stock. The stock was bought at an average price 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 stock was bought at an average price of $20.75 per share, with a total value of $378,687.50.
• On Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The stock was purchased at an average cost 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 stock was purchased at an average cost of $20.95 per share, with a total value of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. acquired 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. purchased 200 shares of Mexico Fund stock. The shares were bought at an average cost 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 bought at an average price of $20.25 per share, for a total transaction of $306,645.75.
• On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,121 shares of Mexico Fund stock. The stock was purchased at an average price of $20.13 per share, for a total transaction 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. bought 16,035 shares of Mexico Fund stock. The shares were acquired at an average price of $20.42 per share, for a total transaction of $327,434.70.

Mexico Fund Price Performance

Shares of MXF stock opened at $21.06 on Wednesday. The stock has a 50 day simple moving average of $20.69 and a 200-day simple moving average of $21.42. Mexico Fund, Inc. has a 12-month low of $18.62 and a 12-month high of $23.00.

Mexico Fund Announces Dividend

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

Key Stories Impacting Mexico Fund

Here are the key news stories impacting Mexico Fund this week:

• Positive Sentiment: Saba Capital Management, L.P. reported a series of 12 purchases from October 14 through November 9, adding 133,945 MXF shares and bringing its disclosed holdings to 2,540,570 shares. The sustained accumulation may indicate confidence in the fund. SEC filing for latest purchases SEC filing for earlier purchases

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MXF. Northwestern Mutual Wealth Management Co. acquired a new stake in Mexico Fund in the second quarter valued at $33,000. Susquehanna International Group LLP purchased a new stake in shares of Mexico Fund during the 2nd quarter worth $215,000. Evolve Private Wealth LLC purchased a new stake in shares of Mexico Fund during the 2nd quarter worth $278,000. Calamos Advisors LLC grew its stake in shares of Mexico Fund by 6.7% during the 3rd 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 period. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of Mexico Fund by 25.8% during 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 purchasing an additional 7,774 shares during the period.

About Mexico Fund

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.