Saba Capital Management, L.P. Acquires 15,051 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 15,051 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average cost of $21.52 per share, for a total transaction of $323,897.52. Following the acquisition, the insider directly owned 2,255,034 shares in the company, valued at $48,528,331.68. This trade represents a 0.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, June 24th, Saba Capital Management, L.P. purchased 5,100 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.31 per share, with a total value of $108,681.00.
• On Thursday, June 18th, Saba Capital Management, L.P. purchased 1,261 shares of Mexico Fund stock. The shares were purchased at an average price of $22.19 per share, with a total value of $27,981.59.
• On Wednesday, June 17th, Saba Capital Management, L.P. purchased 4,037 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.23 per share, for a total transaction of $89,742.51.
• On Friday, June 12th, Saba Capital Management, L.P. acquired 29,500 shares of Mexico Fund stock. The stock was acquired at an average price of $22.30 per share, for a total transaction of $657,850.00.
• On Thursday, June 11th, Saba Capital Management, L.P. acquired 5,117 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.60 per share, with a total value of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. acquired 11,081 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.39 per share, with a total value of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. bought 3,600 shares of Mexico Fund stock. The shares were acquired at an average price of $21.14 per share, with a total value 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. purchased 32,102 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The shares were acquired at an average price of $22.16 per share, with a total value of $707,989.84.

Mexico Fund Stock Up 0.8%

Shares of NYSE MXF traded up $0.16 during midday trading on Thursday, hitting $21.47. 3,269 shares of the company’s stock were exchanged, compared to its average volume of 62,133. Mexico Fund, Inc. has a 12-month low of $16.57 and a 12-month high of $23.00. The business’s fifty day moving average price is $21.79 and its two-hundred day moving average price is $21.36.

Mexico Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Wednesday, July 22nd will be paid 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 is Wednesday, July 22nd.

Institutional Trading of Mexico Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Scotia Capital Inc. grew its position in Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after acquiring an additional 14,241 shares in the last quarter. Verition Fund Management LLC raised its position in Mexico Fund by 21.7% during the third quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after purchasing an additional 17,747 shares in the last quarter. Alpine Global Management LLC bought a new stake in Mexico Fund during the third quarter worth about $265,000. Uhlmann Price Securities LLC lifted its stake in Mexico Fund by 1.0% during the fourth quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock worth $2,118,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Mexico Fund by 775.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock worth $27,000 after buying an additional 1,194 shares during the last quarter.

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.