Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 12,791 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were purchased at an average price of $19.88 per share, for a total transaction of $254,285.08. Following the acquisition, the insider owned 2,406,625 shares of the company’s stock, valued at approximately $47,843,705. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Monday, November 9th, Saba Capital Management, L.P. purchased 4,365 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.06 per share, with a total value of $91,926.90.
- On Friday, November 6th, Saba Capital Management, L.P. acquired 18,250 shares of Mexico Fund stock. The stock was purchased at an average price of $20.75 per share, with a total value of $378,687.50.
- On Thursday, November 5th, Saba Capital Management, L.P. acquired 24,115 shares of Mexico Fund stock. The stock was purchased at an average price of $20.72 per share, with a total value of $499,662.80.
- On Wednesday, November 4th, Saba Capital Management, L.P. acquired 15,011 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.95 per share, for a total transaction of $314,480.45.
- On Tuesday, November 3rd, Saba Capital Management, L.P. acquired 13,804 shares of Mexico Fund stock. The stock was acquired 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. bought 200 shares of Mexico Fund stock. The shares were acquired at an average price of $20.51 per share, for a total transaction of $4,102.00.
- On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.25 per share, with a total value of $306,645.75.
- On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The stock was acquired at an average price of $20.11 per share, with a total value of $480,649.11.
- On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.13 per share, for a total transaction of $22,565.73.
- On Thursday, October 22nd, Saba Capital Management, L.P. purchased 2,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.14 per share, for a total transaction of $40,280.00.
Mexico Fund Stock Up 1.0%
Mexico Fund stock opened at $21.31 on Thursday. Mexico Fund, Inc. has a one year low of $18.62 and a one year high of $23.00. The business’s fifty day moving average is $20.69 and its 200 day moving average 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 dividend of $0.35 per share. The ex-dividend date was Wednesday, October 21st. This represents a $1.40 annualized dividend and a yield of 6.6%.
Institutional Trading of Mexico Fund
A number of institutional investors have recently made changes to their positions in the stock. Almitas Capital LLC bought a new stake in shares of Mexico Fund in the second quarter worth approximately $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund during the second quarter valued at approximately $2,981,931. Public Employees Retirement System of Ohio bought a new position in Mexico Fund during the second quarter valued at approximately $2,266,000. Saba Capital Management L.P. lifted 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 valued at $36,927,000 after purchasing an additional 73,032 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new position in Mexico Fund during the second quarter valued at approximately $875,000.
Key Headlines Impacting Mexico Fund
Investors following MXF have been watching these headlines:
- Positive Sentiment: Saba disclosed a series of MXF purchases from October 14 through November 9, including 4,365 shares bought most recently at an average $21.06. Its reported holdings reached 2,540,570 shares. Sustained buying by a major shareholder can signal confidence in the fund and provide a supportive sentiment cue, though it does not guarantee future performance. Saba Capital purchase report
About Mexico Fund
The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.
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