Mexico Fund (NYSE:MXF) Major Shareholder Acquires $183,348.00 in Stock

Mexico Fund, Inc. (The) (NYSE:MXFGet Free Report) major shareholder Saba Capital Management, L.P. acquired 8,334 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $22.00 per share, for a total transaction of $183,348.00. Following the transaction, the insider directly owned 1,953,637 shares in the company, valued at approximately $42,980,014. This represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Thursday, May 14th, Saba Capital Management, L.P. bought 33,108 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.00 per share, with a total value of $728,376.00.
  • On Wednesday, May 13th, Saba Capital Management, L.P. purchased 15,148 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.13 per share, for a total transaction of $335,225.24.
  • On Tuesday, May 12th, Saba Capital Management, L.P. purchased 9,000 shares of Mexico Fund stock. The stock was purchased at an average price of $22.01 per share, for a total transaction of $198,090.00.
  • On Thursday, May 7th, Saba Capital Management, L.P. purchased 3,000 shares of Mexico Fund stock. The stock was purchased at an average price of $21.82 per share, for a total transaction of $65,460.00.
  • On Friday, May 1st, Saba Capital Management, L.P. acquired 217 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.33 per share, with a total value of $4,628.61.
  • On Wednesday, April 22nd, Saba Capital Management, L.P. acquired 100,000 shares of Mexico Fund stock. The shares were purchased at an average price of $21.83 per share, with a total value of $2,183,000.00.
  • On Tuesday, April 21st, Saba Capital Management, L.P. acquired 3,505 shares of Mexico Fund stock. The shares were purchased at an average price of $21.86 per share, with a total value of $76,619.30.
  • On Friday, April 17th, Saba Capital Management, L.P. bought 179 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $3,938.00.
  • On Wednesday, April 8th, Saba Capital Management, L.P. bought 2,200 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.17 per share, for a total transaction of $48,774.00.
  • On Monday, April 6th, Saba Capital Management, L.P. bought 3,814 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.23 per share, for a total transaction of $80,971.22.

Mexico Fund Price Performance

Shares of NYSE:MXF traded up $0.03 during trading on Monday, reaching $21.66. 94,503 shares of the stock were exchanged, compared to its average volume of 67,429. Mexico Fund, Inc. has a 1-year low of $16.10 and a 1-year high of $23.00. The stock has a fifty day moving average of $21.25 and a two-hundred day moving average of $20.85.

Mexico Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Wednesday, April 22nd.

Hedge Funds Weigh In On Mexico Fund

Institutional investors have recently modified their holdings of the company. North Ground Capital purchased a new stake in shares of Mexico Fund in the third quarter worth approximately $608,000. Uhlmann Price Securities LLC boosted its position in shares of Mexico Fund by 2.5% during the third quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company’s stock valued at $2,050,000 after buying an additional 2,583 shares during the last quarter. Scotia Capital Inc. grew its holdings in Mexico Fund by 127.8% during the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after buying an additional 14,241 shares in the last quarter. Verition Fund Management LLC raised its position in Mexico Fund by 21.7% in the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after buying an additional 17,747 shares during the last quarter. Finally, Alpine Global Management LLC purchased a new stake in Mexico Fund in the 3rd quarter valued at $265,000.

Mexico Fund Company Profile

(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.

See Also

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

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