Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 17,921 Shares of Company Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 17,921 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was bought at an average price of $20.00 per share, with a total value of $358,420.00. Following the acquisition, the insider owned 2,366,361 shares in the company, valued at $47,327,220. This trade represents a 0.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Friday, October 2nd, Saba Capital Management, L.P. bought 1,573 shares of Mexico Fund stock. The shares were acquired at an average price of $19.74 per share, with a total value of $31,051.02.
• On Wednesday, September 30th, Saba Capital Management, L.P. acquired 1,238 shares of Mexico Fund stock. The shares were bought at an average price of $20.39 per share, for a total transaction of $25,242.82.
• On Monday, September 28th, Saba Capital Management, L.P. purchased 4,133 shares of Mexico Fund stock. The stock was purchased at an average price of $20.74 per share, with a total value of $85,718.42.
• On Friday, September 25th, Saba Capital Management, L.P. purchased 834 shares of Mexico Fund stock. The stock was purchased at an average price of $20.74 per share, with a total value of $17,297.16.
• On Thursday, September 24th, Saba Capital Management, L.P. bought 1,049 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.69 per share, for a total transaction of $21,703.81.
• On Wednesday, September 23rd, Saba Capital Management, L.P. acquired 28,464 shares of Mexico Fund stock. The shares were acquired at an average price of $21.02 per share, for a total transaction of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. purchased 110 shares of Mexico Fund stock. The stock was bought at an average cost of $20.90 per share, for a total transaction of $2,299.00.
• On Monday, September 21st, Saba Capital Management, L.P. purchased 2,034 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.03 per share, with a total value of $42,775.02.
• On Wednesday, September 16th, Saba Capital Management, L.P. bought 6,403 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.63 per share, with a total value of $132,093.89.
• On Tuesday, September 15th, Saba Capital Management, L.P. acquired 459 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.89 per share, with a total value of $9,588.51.

Mexico Fund Price Performance

NYSE:MXF opened at $20.04 on Tuesday. Mexico Fund, Inc. has a 1 year low of $18.30 and a 1 year high of $23.00. The business has a fifty day moving average of $21.36 and a 200-day moving average of $21.50.

Mexico Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $1.40 annualized dividend and a dividend yield of 7.0%.

Institutional Investors Weigh In On Mexico Fund

Hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. boosted its position in Mexico Fund by 4.3% during 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 acquiring an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC lifted its position 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 purchasing an additional 27,983 shares in the last quarter. Almitas Capital LLC purchased a new stake in shares of Mexico Fund in the second quarter worth approximately $3,736,000. North Ground Capital acquired a new stake in shares of Mexico Fund during the second quarter worth approximately $2,981,931. Finally, Altium Capital Management LLC boosted its holdings in shares of Mexico Fund by 165.5% during the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after purchasing an additional 79,898 shares during the period.

About Mexico Fund

The Mexico Fund, Inc (NYSE: MXF) is a non-diversified, closed-end investment company focused on providing long-term capital appreciation through investments in securities of Mexican companies. The fund primarily invests in publicly traded equities, although it may also hold other investments that provide exposure to Mexico’s economy and financial markets.

MXF offers investors a vehicle for gaining diversified exposure to Mexico across multiple industries and sectors. Its portfolio may include companies that operate in areas such as consumer goods, financial services, telecommunications, industrials, materials, and other segments of the Mexican economy.