Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Buys 1,049 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 1,049 shares of Mexico Fund stock in a transaction that occurred on Thursday, September 24th. The stock was bought at an average price of $20.69 per share, for a total transaction of $21,703.81. Following the completion of the acquisition, the insider directly owned 2,342,235 shares of the company’s stock, valued at $48,460,842.15. The trade was a 0.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more 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 Monday, September 28th, Saba Capital Management, L.P. bought 4,133 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.74 per share, with a total value of $85,718.42.
• On Friday, September 25th, Saba Capital Management, L.P. bought 834 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.74 per share, with a total value of $17,297.16.
• On Wednesday, September 23rd, Saba Capital Management, L.P. acquired 28,464 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.02 per share, with a total value of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. bought 110 shares of Mexico Fund stock. The stock was acquired at an average price of $20.90 per share, with a total value of $2,299.00.
• On Monday, September 21st, Saba Capital Management, L.P. purchased 2,034 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.03 per share, for a total transaction of $42,775.02.
• On Wednesday, September 16th, Saba Capital Management, L.P. purchased 6,403 shares of Mexico Fund stock. The shares were acquired at an average price of $20.63 per share, for a total transaction of $132,093.89.
• On Tuesday, September 15th, Saba Capital Management, L.P. acquired 459 shares of Mexico Fund stock. The shares were bought at an average cost of $20.89 per share, with a total value of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. acquired 2,952 shares of Mexico Fund stock. The stock was bought at an average price of $21.41 per share, with a total value of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The stock was bought at an average price of $22.19 per share, with a total value of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock. The shares were bought at an average price of $21.34 per share, for a total transaction of $65,663.18.

Mexico Fund Price Performance

Shares of NYSE MXF opened at $20.61 on Wednesday. The company’s fifty day simple moving average is $21.47 and its 200 day simple moving average is $21.51. Mexico Fund, Inc. has a 12-month low of $18.30 and a 12-month high of $23.00.

Mexico Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, October 21st.

Institutional Trading of Mexico Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Altium Capital Management LLC boosted its holdings in Mexico Fund by 165.5% in the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after acquiring an additional 79,898 shares in the last quarter. North Ground Capital bought a new stake in shares of Mexico Fund during the second quarter valued at approximately $2,981,931. Saba Capital Management L.P. increased its holdings in shares of Mexico Fund by 4.3% during the first 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Mexico Fund during the second quarter worth approximately $2,266,000. Finally, Almitas Capital LLC acquired a new position in shares of Mexico Fund during the second quarter worth approximately $3,736,000.

Mexico Fund Company Profile

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico’s economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.