Saba Capital Management, L.P. Acquires 5,117 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 5,117 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $21.60 per share, for a total transaction of $110,527.20. Following the completion of the acquisition, the insider directly owned 2,205,185 shares in the company, valued at approximately $47,631,996. The trade was a 0.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at 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 Friday, June 12th, Saba Capital Management, L.P. acquired 29,500 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.30 per share, for a total transaction of $657,850.00.
• On Wednesday, June 10th, Saba Capital Management, L.P. purchased 11,081 shares of Mexico Fund stock. The stock was bought at an average cost of $21.39 per share, with a total value of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. purchased 3,600 shares of Mexico Fund stock. The stock was bought at an average cost of $21.14 per share, with a total value of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. purchased 19,906 shares of Mexico Fund stock. The stock was bought at an average cost of $21.64 per share, with a total value of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. purchased 32,102 shares of Mexico Fund stock. The stock was bought at an average cost of $21.61 per share, with a total value of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. bought 31,949 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.16 per share, with a total value of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. bought 9,633 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.24 per share, with a total value of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. bought 708 shares of Mexico Fund stock. The shares were 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. bought 18,466 shares of Mexico Fund stock. The shares were 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. purchased 6,700 shares of Mexico Fund stock. The shares were purchased at an average price of $22.16 per share, with a total value of $148,472.00.

Mexico Fund Stock Down 0.1%

Shares of MXF traded down $0.01 during trading hours on Monday, hitting $22.29. 36,620 shares of the stock were exchanged, compared to its average volume of 64,320. The stock’s 50-day moving average price is $21.75 and its two-hundred day moving average price is $21.22. Mexico Fund, Inc. has a 12-month low of $16.43 and a 12-month high of $23.00.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Wednesday, July 22nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 6.3%.

Institutional Investors Weigh In On Mexico Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Saba Capital Management L.P. increased its position in shares of 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 purchasing an additional 73,032 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Mexico Fund by 2.9% during the 1st 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 during the last quarter. Altium Capital Management LLC increased its position in shares of Mexico Fund by 165.5% during the 1st 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 last quarter. North Ground Capital increased its position in shares of Mexico Fund by 309.2% during the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock worth $2,544,000 after purchasing an additional 95,443 shares during the last quarter. Finally, Uhlmann Price Securities LLC increased its position in shares of Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock worth $2,243,000 after purchasing an additional 2,013 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.