Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $657,850.00 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 29,500 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $22.30 per share, with a total value of $657,850.00. Following the purchase, the insider directly owned 2,234,685 shares in the company, valued at $49,833,475.50. This represents a 1.34% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large 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 Thursday, June 11th, Saba Capital Management, L.P. acquired 5,117 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.60 per share, with a total value of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. acquired 11,081 shares of Mexico Fund stock. The stock was acquired 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 shares were purchased 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 shares were purchased 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 shares were purchased 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. purchased 31,949 shares of Mexico Fund stock. The shares were purchased 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. purchased 9,633 shares of Mexico Fund stock. The shares were purchased 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. purchased 708 shares of Mexico Fund stock. The shares were purchased 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. purchased 18,466 shares of Mexico Fund stock. The shares were purchased 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 cost of $22.16 per share, with a total value of $148,472.00.

Mexico Fund Price Performance

Shares of MXF opened at $22.18 on Thursday. The firm has a fifty day simple moving average of $21.81 and a two-hundred day simple moving average of $21.28. Mexico Fund, Inc. has a twelve month low of $16.43 and a twelve month high of $23.00.

Mexico Fund Dividend Announcement

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

Institutional Investors Weigh In On Mexico Fund

Several institutional investors have recently added to or reduced their stakes in MXF. Uhlmann Price Securities LLC lifted its position in shares of Mexico Fund by 2.5% in the 3rd quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company’s stock worth $2,050,000 after purchasing an additional 2,583 shares during the period. Scotia Capital Inc. lifted its position in shares of Mexico Fund by 127.8% in 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 period. Verition Fund Management LLC lifted its position in shares of Mexico Fund by 21.7% in the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock worth $1,960,000 after purchasing an additional 17,747 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Mexico Fund in the 3rd quarter worth about $265,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Mexico Fund by 775.3% in 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 period.

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.