Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $214,237.92 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 9,633 shares of Mexico Fund stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average cost of $22.24 per share, with a total value of $214,237.92. Following the completion of the transaction, the insider directly owned 2,101,430 shares of the company’s stock, valued at approximately $46,735,803.20. The trade was a 0.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% 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 Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The shares were bought at an average cost of $22.16 per share, with a total value of $707,989.84.
• On Monday, June 1st, Saba Capital Management, L.P. acquired 708 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.90 per share, with a total value of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. acquired 18,466 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.17 per share, with a total value of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. acquired 6,700 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.16 per share, with a total value of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. acquired 44,608 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.27 per share, with a total value of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. acquired 14,402 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.99 per share, with a total value of $316,699.98.
• On Thursday, May 21st, Saba Capital Management, L.P. acquired 7,166 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.67 per share, with a total value of $155,287.22.
• On Wednesday, May 20th, Saba Capital Management, L.P. acquired 4,610 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.68 per share, with a total value of $99,944.80.
• On Tuesday, May 19th, Saba Capital Management, L.P. acquired 22,914 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.58 per share, with a total value of $494,484.12.
• On Monday, May 18th, Saba Capital Management, L.P. acquired 18,586 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.59 per share, with a total value of $401,271.74.

Mexico Fund Stock Down 1.6%

MXF opened at $21.44 on Friday. Mexico Fund, Inc. has a 12-month low of $16.43 and a 12-month high of $23.00. The business has a 50 day moving average of $21.67 and a 200-day moving average of $21.11.

Mexico Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were given a $0.35 dividend. 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.

Institutional Trading of Mexico Fund

A number of hedge funds have recently made changes to their positions in MXF. Farther Finance Advisors LLC lifted its holdings in Mexico Fund by 775.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock worth $27,000 after purchasing an additional 1,194 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in Mexico Fund by 109.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock worth $105,000 after purchasing an additional 2,735 shares during the last quarter. Alpine Global Management LLC acquired a new stake in Mexico Fund during the 3rd quarter worth approximately $265,000. Calamos Advisors LLC lifted its holdings in Mexico Fund by 32.1% during the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock worth $378,000 after purchasing an additional 4,563 shares during the last quarter. Finally, Scotia Capital Inc. lifted its holdings in Mexico Fund by 127.8% during the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after purchasing an additional 14,241 shares during the last quarter.

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.