Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Buys 18,250 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 18,250 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average price of $20.75 per share, for a total transaction of $378,687.50. Following the completion of the transaction, the insider owned 2,536,205 shares of the company’s stock, valued at $52,626,253.75. The trade was a 0.72% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Monday, November 9th, Saba Capital Management, L.P. bought 4,365 shares of Mexico Fund stock. The stock was bought at an average cost of $21.06 per share, for a total transaction of $91,926.90.
• On Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The shares were bought at an average price of $20.72 per share, with a total value of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. bought 15,011 shares of Mexico Fund stock. The shares were bought at an average price of $20.95 per share, with a total value of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock. The stock was bought at an average cost of $20.54 per share, with a total value of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was bought at an average cost of $20.51 per share, with a total value of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. purchased 15,143 shares of Mexico Fund stock. The stock was bought at an average cost of $20.25 per share, with a total value of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The stock was bought at an average cost of $20.11 per share, for a total transaction of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The stock was bought at an average cost of $20.13 per share, for a total transaction of $22,565.73.
• On Thursday, October 22nd, Saba Capital Management, L.P. acquired 2,000 shares of Mexico Fund stock. The shares were bought at an average price of $20.14 per share, for a total transaction of $40,280.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. acquired 16,035 shares of Mexico Fund stock. The shares were bought at an average price of $20.42 per share, for a total transaction of $327,434.70.

Mexico Fund Stock Performance

Shares of NYSE MXF traded up $0.02 during mid-day trading on Tuesday, reaching $21.06. 15,459 shares of the company were exchanged, compared to its average volume of 50,850. Mexico Fund, Inc. has a 52 week low of $18.62 and a 52 week high of $23.00. The company’s 50 day moving average price is $20.71 and its 200 day moving average price is $21.42.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 21st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend was Wednesday, October 21st.

Key Mexico Fund News

Here are the key news stories impacting Mexico Fund this week:

• Positive Sentiment: Saba’s disclosed purchases indicate sustained buying by a significant shareholder, totaling 111,330 additional shares from the reported October 14 holding through November 5. SEC filing

Institutional Investors Weigh In On Mexico Fund

A number of large investors have recently added to or reduced their stakes in MXF. City of London Investment Management Co. Ltd. lifted its stake in Mexico Fund by 0.6% during the third quarter. City of London Investment Management Co. Ltd. now owns 3,230,491 shares of the investment management company’s stock worth $65,870,000 after purchasing an additional 19,166 shares during the last quarter. Saba Capital Management L.P. boosted its holdings in shares of 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 worth $36,927,000 after purchasing an additional 73,032 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of 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 valued at $20,548,000 after purchasing an additional 27,983 shares during the last quarter. Almitas Capital LLC bought a new position in shares of Mexico Fund during the 2nd quarter valued at about $3,736,000. Finally, North Ground Capital bought a new position in shares of Mexico Fund during the 2nd quarter valued at about $2,981,931.

Mexico Fund Company Profile

The Mexico Fund, Inc. (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.