Saba Capital Management, L.P. Acquires 5,100 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 5,100 shares of Mexico Fund stock in a transaction that occurred on Wednesday, June 24th. The shares were acquired at an average cost of $21.31 per share, with a total value of $108,681.00. Following the acquisition, the insider owned 2,260,134 shares of the company’s stock, valued at $48,163,455.54. The trade was a 0.23% increase in their ownership of the stock. The transaction 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 Tuesday, June 23rd, Saba Capital Management, L.P. purchased 15,051 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.52 per share, for a total transaction of $323,897.52.
• On Thursday, June 18th, Saba Capital Management, L.P. purchased 1,261 shares of Mexico Fund stock. The shares were bought at an average cost of $22.19 per share, for a total transaction of $27,981.59.
• On Wednesday, June 17th, Saba Capital Management, L.P. purchased 4,037 shares of Mexico Fund stock. The shares were bought 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 shares were bought at an average price of $22.30 per share, with a total value of $657,850.00.
• On Thursday, June 11th, Saba Capital Management, L.P. acquired 5,117 shares of Mexico Fund stock. The stock was bought 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. bought 11,081 shares of Mexico Fund stock. The stock was bought 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 shares were bought at an average cost 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 shares were bought at an average cost 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 shares were bought at an average price of $21.61 per share, with a total value of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The stock was bought at an average cost of $22.16 per share, with a total value of $707,989.84.

Mexico Fund Price Performance

Shares of NYSE:MXF opened at $21.62 on Friday. Mexico Fund, Inc. has a 12-month low of $16.57 and a 12-month high of $23.00. The business has a 50 day moving average of $21.77 and a two-hundred day moving average of $21.38.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Wednesday, July 22nd.

Institutional Trading of Mexico Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Saba Capital Management L.P. increased its holdings in Mexico Fund by 32.4% in the fourth quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company’s stock valued at $34,063,000 after buying an additional 413,606 shares in the last quarter. Marex Group plc purchased a new stake in shares of Mexico Fund during the 4th quarter worth about $1,926,000. North Ground Capital boosted its stake in shares of Mexico Fund by 309.2% during the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock worth $2,544,000 after acquiring an additional 95,443 shares in the last quarter. Altium Capital Management LLC grew its position in shares of Mexico Fund by 165.5% during 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 acquiring an additional 79,898 shares during the period. Finally, Alpine Global Management LLC grew its position in shares of Mexico Fund by 356.7% during the 4th quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock valued at $1,237,000 after acquiring an additional 47,979 shares during the period.

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.