Saba Capital Management, L.P. Buys 29,500 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 29,500 shares of the stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $22.30 per share, with a total value of $657,850.00. Following the acquisition, the insider directly owned 2,234,685 shares in the company, valued at $49,833,475.50. This represents a 1.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 Thursday, June 11th, Saba Capital Management, L.P. acquired 5,117 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.60 per share, for a total transaction of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. bought 11,081 shares of Mexico Fund stock. The stock was acquired at an average price of $21.39 per share, for a total transaction of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. bought 3,600 shares of Mexico Fund stock. The stock was acquired at an average price of $21.14 per share, for a total transaction of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. bought 19,906 shares of Mexico Fund stock. The stock was acquired at an average price of $21.64 per share, for a total transaction of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. bought 32,102 shares of Mexico Fund stock. The stock was acquired at an average price of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. bought 31,949 shares of Mexico Fund stock. The stock was acquired at an average price of $22.16 per share, for a total transaction of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. bought 9,633 shares of Mexico Fund stock. The stock was acquired at an average price of $22.24 per share, for a total transaction of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. bought 708 shares of Mexico Fund stock. The stock was acquired at an average price of $21.90 per share, for a total transaction of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. acquired 18,466 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. acquired 6,700 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.16 per share, for a total transaction of $148,472.00.

Mexico Fund Trading Down 0.1%

Shares of NYSE MXF traded down $0.01 during mid-day trading on Monday, hitting $22.29. 36,620 shares of the stock traded hands, compared to its average volume of 64,320. Mexico Fund, Inc. has a twelve month low of $16.43 and a twelve month high of $23.00. The firm has a 50 day simple moving average of $21.75 and a two-hundred day simple moving average of $21.22.

Mexico Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.3%.

Institutional Investors Weigh In On Mexico Fund

Hedge funds have recently modified their holdings of the company. Altium Capital Management LLC acquired a new stake in shares of Mexico Fund during the 4th quarter valued at $972,000. Allspring Global Investments Holdings LLC lifted its holdings in Mexico Fund by 2.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after buying an additional 27,983 shares during the period. Calamos Advisors LLC lifted its holdings in Mexico Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock worth $446,000 after buying an additional 2,535 shares during the period. Uhlmann Price Securities LLC lifted its holdings in Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock worth $2,243,000 after buying an additional 2,013 shares during the period. Finally, Sit Investment Associates Inc. lifted its holdings in Mexico Fund by 144.8% during the 4th quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company’s stock worth $1,000,000 after buying an additional 29,377 shares during the period.

About Mexico Fund

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.