Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 5,100 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 5,100 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were acquired at an average price of $21.31 per share, for a total transaction of $108,681.00. Following the completion of the transaction, the insider directly owned 2,260,134 shares in the company, valued at approximately $48,163,455.54. This trade represents a 0.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 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 Tuesday, June 23rd, Saba Capital Management, L.P. purchased 15,051 shares of Mexico Fund stock. The shares were acquired at an average price of $21.52 per share, for a total transaction of $323,897.52.
• On Thursday, June 18th, Saba Capital Management, L.P. bought 1,261 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.19 per share, with a total value of $27,981.59.
• On Wednesday, June 17th, Saba Capital Management, L.P. purchased 4,037 shares of Mexico Fund stock. The stock was bought at an average cost of $22.23 per share, for a total transaction of $89,742.51.
• On Friday, June 12th, Saba Capital Management, L.P. purchased 29,500 shares of Mexico Fund stock. The stock was bought at an average cost of $22.30 per share, with a total value of $657,850.00.
• On Thursday, June 11th, Saba Capital Management, L.P. acquired 5,117 shares of Mexico Fund stock. The shares were bought at an average price 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 shares were bought at an average cost of $21.39 per share, for a total transaction of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. bought 3,600 shares of Mexico Fund stock. The stock was bought at an average price of $21.14 per share, for a total transaction of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. bought 19,906 shares of Mexico Fund stock. The shares were 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 shares were bought at an average price 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 stock was bought at an average cost of $22.16 per share, for a total transaction of $707,989.84.

Mexico Fund Trading Up 1.9%

MXF stock opened at $21.71 on Friday. Mexico Fund, Inc. has a 12-month low of $16.57 and a 12-month high of $23.00. The business’s 50-day moving average is $21.78 and its 200 day moving average is $21.38.

Mexico Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.4%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MXF. Farther Finance Advisors LLC lifted its holdings in 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 valued at $27,000 after purchasing an additional 1,194 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in shares of Mexico Fund by 109.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock worth $105,000 after buying an additional 2,735 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Mexico Fund in the third quarter valued at about $265,000. Calamos Advisors LLC lifted its stake in shares of Mexico Fund by 32.1% in the fourth quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock worth $378,000 after buying an additional 4,563 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in shares of Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after buying an additional 14,241 shares in 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.