Mexico Fund (NYSE:MXF) Major Shareholder Acquires $316,699.98 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 14,402 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $21.99 per share, with a total value of $316,699.98. Following the completion of the purchase, the insider directly owned 2,021,315 shares in the company, valued at $44,448,716.85. This represents a 0.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Wednesday, May 27th, Saba Capital Management, L.P. purchased 44,608 shares of Mexico Fund stock. The shares were bought at an average cost of $22.27 per share, with a total value of $993,420.16.
• On Thursday, May 21st, Saba Capital Management, L.P. purchased 7,166 shares of Mexico Fund stock. The shares were bought 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. purchased 4,610 shares of Mexico Fund stock. The shares were bought 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. purchased 22,914 shares of Mexico Fund stock. The shares were bought 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. purchased 18,586 shares of Mexico Fund stock. The shares were bought at an average cost of $21.59 per share, with a total value of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. acquired 8,334 shares of Mexico Fund stock. The shares were acquired at an average price of $22.00 per share, for a total transaction of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. acquired 33,108 shares of Mexico Fund stock. The shares were acquired at an average price of $22.00 per share, for a total transaction of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. acquired 15,148 shares of Mexico Fund stock. The shares were acquired at an average price of $22.13 per share, for a total transaction of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. acquired 9,000 shares of Mexico Fund stock. The shares were acquired 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. acquired 3,000 shares of Mexico Fund stock. The shares were acquired at an average price of $21.82 per share, for a total transaction of $65,460.00.

Mexico Fund Stock Performance

MXF stock opened at $22.13 on Friday. Mexico Fund, Inc. has a 52-week low of $16.43 and a 52-week high of $23.00. The stock’s fifty day simple moving average is $21.49 and its 200-day simple moving average is $21.02.

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 issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.3%.

Institutional Investors Weigh In On Mexico Fund

Several hedge funds have recently made changes to their positions in MXF. Farther Finance Advisors LLC boosted its holdings in shares of Mexico Fund by 775.3% during the fourth 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 boosted its holdings in Mexico Fund by 109.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after acquiring an additional 2,735 shares during the last quarter. Alpine Global Management LLC acquired a new position in Mexico Fund in the third quarter valued at $265,000. Calamos Advisors LLC boosted its holdings in Mexico Fund by 32.1% in the fourth quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after acquiring an additional 4,563 shares during the last quarter. Finally, Scotia Capital Inc. boosted its holdings in 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 acquiring an additional 14,241 shares during the last quarter.

Mexico Fund Company Profile

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.