Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 2,520 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 2,520 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was acquired at an average price of $20.45 per share, with a total value of $51,534.00. Following the completion of the transaction, the insider directly owned 1,693,830 shares of the company’s stock, valued at approximately $34,638,823.50. This represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Friday, January 9th, Saba Capital Management, L.P. bought 10 shares of Mexico Fund stock. The shares were acquired at an average price of $20.24 per share, for a total transaction of $202.40.
• On Tuesday, December 16th, Saba Capital Management, L.P. purchased 16,228 shares of Mexico Fund stock. The stock was bought at an average cost of $19.95 per share, with a total value of $323,748.60.
• On Monday, December 15th, Saba Capital Management, L.P. acquired 28,475 shares of Mexico Fund stock. The shares were bought at an average price of $20.22 per share, with a total value of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. acquired 9,400 shares of Mexico Fund stock. The shares were bought at an average cost of $19.91 per share, for a total transaction of $187,154.00.
• On Thursday, December 11th, Saba Capital Management, L.P. bought 6,008 shares of Mexico Fund stock. The stock was bought at an average price of $20.20 per share, for a total transaction of $121,361.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The shares were bought at an average cost of $19.70 per share, with a total value of $19,700.00.
• On Tuesday, December 9th, Saba Capital Management, L.P. purchased 628 shares of Mexico Fund stock. The stock was bought at an average cost of $19.74 per share, for a total transaction of $12,396.72.
• On Monday, December 8th, Saba Capital Management, L.P. acquired 2,403 shares of Mexico Fund stock. The stock was purchased at an average price of $19.63 per share, for a total transaction of $47,170.89.
• On Friday, December 5th, Saba Capital Management, L.P. acquired 15,492 shares of Mexico Fund stock. The shares were purchased at an average price of $19.59 per share, with a total value of $303,488.28.
• On Thursday, December 4th, Saba Capital Management, L.P. bought 698 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.58 per share, with a total value of $13,666.84.

Mexico Fund Stock Performance

NYSE MXF opened at $20.66 on Wednesday. The stock’s 50 day simple moving average is $19.79 and its 200-day simple moving average is $18.87. Mexico Fund, Inc. has a 1-year low of $13.10 and a 1-year high of $20.79.

Mexico Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st will be paid a dividend of $0.35 per share. This is a boost from Mexico Fund’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $1.40 annualized dividend and a yield of 6.8%.

Hedge Funds Weigh In On Mexico Fund

Several hedge funds and other institutional investors have recently modified their holdings of MXF. City of London Investment Management Co. Ltd. boosted its position in Mexico Fund by 9.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company’s stock worth $63,406,000 after acquiring an additional 305,864 shares during the last quarter. North Ground Capital purchased a new position in Mexico Fund in the 3rd quarter worth approximately $608,000. Verition Fund Management LLC boosted its holdings in shares of Mexico Fund by 21.7% during the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock worth $1,960,000 after purchasing an additional 17,747 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after purchasing an additional 14,241 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new stake in shares of Mexico Fund in the third quarter valued at approximately $265,000.

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.