Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 6,403 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 6,403 shares of the stock in a transaction dated Wednesday, September 16th. The stock was bought at an average price of $20.63 per share, for a total transaction of $132,093.89. Following the purchase, the insider directly owned 2,310,578 shares of the company’s stock, valued at approximately $47,667,224.14. The trade was a 0.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, September 15th, Saba Capital Management, L.P. purchased 459 shares of Mexico Fund stock. The shares were bought at an average price of $20.89 per share, with a total value of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. purchased 2,952 shares of Mexico Fund stock. The shares were bought at an average price of $21.41 per share, with a total value of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. purchased 9,362 shares of Mexico Fund stock. The stock was bought at an average cost of $22.19 per share, with a total value of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. acquired 3,077 shares of Mexico Fund stock. The stock was bought at an average price of $21.34 per share, for a total transaction of $65,663.18.
• On Tuesday, July 28th, Saba Capital Management, L.P. acquired 2,608 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.56 per share, for a total transaction of $56,228.48.
• On Wednesday, July 22nd, Saba Capital Management, L.P. acquired 7,623 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.80 per share, for a total transaction of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. bought 414 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.11 per share, with a total value of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. bought 200 shares of Mexico Fund stock. The stock was purchased at an average price of $21.52 per share, with a total value of $4,304.00.
• On Monday, July 20th, Saba Capital Management, L.P. bought 7,631 shares of Mexico Fund stock. The stock was purchased at an average price of $21.49 per share, with a total value of $163,990.19.
• On Wednesday, July 8th, Saba Capital Management, L.P. purchased 522 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.26 per share, for a total transaction of $11,097.72.

Mexico Fund Stock Performance

MXF stock opened at $21.23 on Friday. The firm’s fifty day moving average is $21.59 and its 200 day moving average is $21.53. Mexico Fund, Inc. has a one year low of $18.30 and a one year high of $23.00.

Mexico Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Wednesday, October 21st.

Hedge Funds Weigh In On Mexico Fund

Several institutional investors and hedge funds have recently modified their holdings of MXF. Saba Capital Management L.P. boosted its position in Mexico Fund by 4.3% during the first 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Mexico Fund by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock valued at $20,548,000 after purchasing an additional 27,983 shares during the period. Almitas Capital LLC purchased a new stake in shares of Mexico Fund in the second quarter valued at approximately $3,736,000. North Ground Capital purchased a new stake in shares of Mexico Fund in the second quarter valued at approximately $2,981,931. Finally, Altium Capital Management LLC raised its stake 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 buying an additional 79,898 shares during the period.

About Mexico Fund

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico’s economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.