Mexico Fund (NYSE:MXF) Major Shareholder Purchases $283,534.16 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock in a transaction dated Tuesday, November 3rd. The stock was bought at an average price of $20.54 per share, with a total value of $283,534.16. Following the completion of the purchase, the insider directly owned 2,478,829 shares of the company’s stock, valued at approximately $50,915,147.66. This trade represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 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 Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The stock was acquired at an average price of $20.72 per share, for a total transaction of $499,662.80.
  • On Wednesday, November 4th, Saba Capital Management, L.P. acquired 15,011 shares of Mexico Fund stock. The shares were bought at an average cost of $20.95 per share, for a total transaction of $314,480.45.
  • On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was purchased at an average price of $20.51 per share, with a total value of $4,102.00.
  • On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.25 per share, for a total transaction of $306,645.75.
  • On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The shares were purchased at an average price of $20.11 per share, with a total value of $480,649.11.
  • On Wednesday, October 28th, Saba Capital Management, L.P. bought 1,121 shares of Mexico Fund stock. The stock was purchased 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. bought 2,000 shares of Mexico Fund stock. The shares were purchased at an average price of $20.14 per share, with a total value 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 cost of $20.42 per share, for a total transaction of $327,434.70.
  • On Wednesday, October 14th, Saba Capital Management, L.P. bought 12,791 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.88 per share, for a total transaction of $254,285.08.
  • On Monday, October 5th, Saba Capital Management, L.P. acquired 25,900 shares of Mexico Fund stock. The shares were acquired at an average price of $20.09 per share, with a total value of $520,331.00.

Mexico Fund Stock Performance

Shares of NYSE:MXF traded up $0.02 during trading on Tuesday, reaching $21.06. 7,704 shares of the company were exchanged, compared to its average volume of 50,814. The business’s fifty day simple moving average is $20.71 and its 200-day simple moving average is $21.42. Mexico Fund, Inc. has a 12-month low of $18.62 and a 12-month high of $23.00.

Mexico Fund Announces Dividend

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

Institutional Investors Weigh In On Mexico Fund

Several hedge funds have recently modified their holdings of the company. Almitas Capital LLC purchased a new position in Mexico Fund during the second quarter worth approximately $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund in the second quarter worth about $2,981,931. Public Employees Retirement System of Ohio acquired a new position in Mexico Fund during the second quarter worth about $2,266,000. Saba Capital Management L.P. boosted its position in Mexico Fund by 4.3% during the first 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 last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Mexico Fund in the 2nd quarter valued at about $875,000.

About Mexico Fund

(Get Free Report)

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.

See Also

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

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