Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 15,051 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 15,051 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average price of $21.52 per share, for a total transaction of $323,897.52. Following the purchase, the insider directly owned 2,255,034 shares of the company’s stock, valued at approximately $48,528,331.68. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large 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, June 24th, Saba Capital Management, L.P. bought 5,100 shares of Mexico Fund stock. The stock was purchased at an average price of $21.31 per share, with a total value of $108,681.00.
• On Thursday, June 18th, Saba Capital Management, L.P. purchased 1,261 shares of Mexico Fund stock. The shares were purchased 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 shares were purchased at an average cost of $22.23 per share, with a total value of $89,742.51.
• On Friday, June 12th, Saba Capital Management, L.P. purchased 29,500 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.30 per share, for a total transaction of $657,850.00.
• On Thursday, June 11th, Saba Capital Management, L.P. acquired 5,117 shares of Mexico Fund stock. The stock was purchased at an average price of $21.60 per share, for a total transaction of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. acquired 11,081 shares of Mexico Fund stock. The stock was purchased 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. bought 3,600 shares of Mexico Fund stock. The shares were acquired at an average price of $21.14 per share, with a total value of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. bought 19,906 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.64 per share, for a total transaction of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. bought 32,102 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The stock was acquired at an average price of $22.16 per share, for a total transaction of $707,989.84.

Mexico Fund Price Performance

Shares of MXF opened at $21.71 on Friday. Mexico Fund, Inc. has a one year low of $16.57 and a one year high of $23.00. The stock has a 50-day moving average price of $21.78 and a 200 day moving average price of $21.38.

Mexico Fund Dividend Announcement

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

Institutional Trading of Mexico Fund

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in shares of Mexico Fund by 775.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock worth $27,000 after buying an additional 1,194 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in Mexico Fund by 109.4% during the 4th 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 during the 3rd quarter worth $265,000. Calamos Advisors LLC grew its holdings in Mexico Fund by 32.1% during the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock worth $378,000 after acquiring an additional 4,563 shares in the last quarter. Finally, Scotia Capital Inc. increased 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 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.