Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 4,610 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 4,610 shares of the stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $21.68 per share, for a total transaction of $99,944.80. Following the completion of the transaction, the insider directly owned 1,999,747 shares of the company’s stock, valued at $43,354,514.96. This trade represents a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large 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, May 19th, Saba Capital Management, L.P. bought 22,914 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.58 per share, for a total transaction of $494,484.12.
• On Monday, May 18th, Saba Capital Management, L.P. bought 18,586 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.59 per share, for a total transaction of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. bought 8,334 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. bought 33,108 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. bought 15,148 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.13 per share, for a total transaction of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. bought 9,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.01 per share, for a total transaction of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. bought 3,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.82 per share, for a total transaction of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. bought 217 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.33 per share, for a total transaction of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. bought 100,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.83 per share, for a total transaction of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. bought 3,505 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.86 per share, for a total transaction of $76,619.30.

Mexico Fund Price Performance

NYSE MXF opened at $21.65 on Friday. The business has a fifty day simple moving average of $21.30 and a 200 day simple moving average of $20.92. Mexico Fund, Inc. has a 12 month low of $16.22 and a 12 month high of $23.00.

Mexico Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend was Wednesday, April 22nd.

Institutional Investors Weigh In On Mexico Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Saba Capital Management L.P. raised its position in Mexico Fund by 4.3% in 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 buying an additional 73,032 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in 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 buying an additional 27,983 shares during the last quarter. Altium Capital Management LLC raised its position in Mexico Fund by 165.5% in the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock valued at $2,683,000 after buying an additional 79,898 shares during the last quarter. North Ground Capital raised its position in Mexico Fund by 309.2% in the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock valued at $2,544,000 after buying an additional 95,443 shares during the last quarter. Finally, Uhlmann Price Securities LLC raised its position in Mexico Fund by 1.9% in the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock valued at $2,243,000 after buying an additional 2,013 shares during the last quarter.

Mexico Fund Company Profile

The Mexico Fund, Inc (NYSE: MXF) is a closed-end management investment company that seeks long-term capital appreciation through exposure to Mexican securities. The fund primarily invests in equity instruments of companies organized or principally operating in Mexico, spanning a range of sectors such as financial services, consumer goods, industrials and energy. It may also allocate portions of its portfolio to fixed-income securities, including government and corporate bonds, when attractive opportunities arise.

Launched in 1991 and incorporated under Maryland law, The Mexico Fund offers U.S.