Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 2,608 Shares

Mexico Fund, Inc. (The) (NYSE:MXFGet Free Report) major shareholder Saba Capital Management, L.P. purchased 2,608 shares of Mexico Fund stock in a transaction dated Tuesday, July 28th. The stock was bought at an average price of $21.56 per share, for a total transaction of $56,228.48. Following the completion of the transaction, the insider directly owned 2,288,151 shares in the company, valued at $49,332,535.56. The trade was a 0.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares 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, July 22nd, Saba Capital Management, L.P. acquired 7,623 shares of Mexico Fund stock. The shares were bought at an average cost of $21.80 per share, with a total value of $166,181.40.
  • On Thursday, July 23rd, Saba Capital Management, L.P. acquired 414 shares of Mexico Fund stock. The stock was bought at an average price of $21.11 per share, with a total value of $8,739.54.
  • On Tuesday, July 21st, Saba Capital Management, L.P. bought 200 shares of Mexico Fund stock. The stock was bought at an average cost of $21.52 per share, for a total transaction of $4,304.00.
  • On Monday, July 20th, Saba Capital Management, L.P. bought 7,631 shares of Mexico Fund stock. The stock was bought at an average cost of $21.49 per share, for a total transaction of $163,990.19.
  • On Wednesday, July 8th, Saba Capital Management, L.P. bought 522 shares of Mexico Fund stock. The shares were bought at an average price of $21.26 per share, for a total transaction of $11,097.72.
  • On Tuesday, July 7th, Saba Capital Management, L.P. bought 1,828 shares of Mexico Fund stock. The shares were bought at an average price of $21.73 per share, with a total value of $39,722.44.
  • On Wednesday, June 24th, Saba Capital Management, L.P. bought 5,100 shares of Mexico Fund stock. The shares were bought at an average price of $21.31 per share, with a total value of $108,681.00.
  • On Tuesday, June 23rd, Saba Capital Management, L.P. purchased 15,051 shares of Mexico Fund stock. The stock was bought at an average cost of $21.52 per share, with a total value of $323,897.52.
  • On Thursday, June 18th, Saba Capital Management, L.P. purchased 1,261 shares of Mexico Fund stock. The stock was purchased at an average price of $22.19 per share, for a total transaction of $27,981.59.
  • On Wednesday, June 17th, Saba Capital Management, L.P. acquired 4,037 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.23 per share, for a total transaction of $89,742.51.

Mexico Fund Stock Performance

Shares of NYSE MXF opened at $21.28 on Thursday. The firm has a 50 day moving average price of $21.73 and a 200 day moving average price of $21.61. Mexico Fund, Inc. has a 52-week low of $17.41 and a 52-week high of $23.00.

Mexico Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd 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 6.6%. The ex-dividend date of this dividend is Wednesday, July 22nd.

Institutional Trading of Mexico Fund

Large investors have recently made changes to their positions in the company. Altium Capital Management LLC raised its stake in 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 worth $2,683,000 after buying an additional 79,898 shares during the period. Saba Capital Management L.P. grew its stake in Mexico Fund by 4.3% in 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 during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Mexico Fund by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after acquiring an additional 27,983 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in shares of Mexico Fund by 144.8% in the fourth quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company’s stock worth $1,000,000 after acquiring an additional 29,377 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of Mexico Fund by 21.7% in the third quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock worth $1,960,000 after acquiring an additional 17,747 shares in the last quarter.

About Mexico Fund

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Mexico Fund (NYSE:MXF)

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