Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Buys 15,011 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 15,011 shares of Mexico Fund stock in a transaction on Wednesday, November 4th. The shares were bought at an average price of $20.95 per share, for a total transaction of $314,480.45. Following the completion of the purchase, the insider directly owned 2,493,840 shares in the company, valued at $52,245,948. The trade was a 0.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 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 Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The stock was bought at an average cost of $20.72 per share, with a total value of $499,662.80.
• On Tuesday, November 3rd, Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock. The shares were bought at an average cost of $20.54 per share, for a total transaction of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was purchased at an average price of $20.51 per share, with a total value of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The stock was purchased at an average price of $20.25 per share, with a total value of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The shares were purchased at an average price of $20.11 per share, for a total transaction of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,121 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.13 per share, with a total value of $22,565.73.
• On Thursday, October 22nd, Saba Capital Management, L.P. bought 2,000 shares of Mexico Fund stock. The shares were acquired at an average price of $20.14 per share, with a total value of $40,280.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 16,035 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.42 per share, for a total transaction of $327,434.70.
• On Wednesday, October 14th, Saba Capital Management, L.P. bought 12,791 shares of Mexico Fund stock. The shares were acquired at an average cost of $19.88 per share, for a total transaction of $254,285.08.
• On Monday, October 5th, Saba Capital Management, L.P. purchased 25,900 shares of Mexico Fund stock. The stock was acquired at an average price of $20.09 per share, for a total transaction of $520,331.00.

Mexico Fund Trading Up 0.1%

Shares of NYSE MXF traded up $0.02 during midday trading on Tuesday, hitting $21.06. The company’s stock had a trading volume of 7,704 shares, compared to its average volume of 50,814. Mexico Fund, Inc. has a 1-year low of $18.62 and a 1-year high of $23.00. The firm’s fifty day moving average price is $20.71 and its 200-day moving average price is $21.42.

Mexico Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Wednesday, October 21st.

Institutional Trading of Mexico Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mexico Fund in the 2nd quarter worth approximately $33,000. Susquehanna International Group LLP bought a new position in Mexico Fund during the 2nd quarter worth $215,000. Evolve Private Wealth LLC bought a new position in Mexico Fund during the 2nd quarter worth $278,000. Calamos Advisors LLC increased its position in Mexico Fund by 6.7% in the third quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company’s stock worth $343,000 after buying an additional 1,050 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its position in Mexico Fund by 25.8% in the third quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company’s stock worth $774,000 after buying an additional 7,774 shares during the period.

About Mexico Fund

The Mexico Fund, Inc. (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.