Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 18,250 Shares of Company Stock

Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. bought 18,250 shares of the company’s stock in a transaction on Friday, November 6th. The stock was bought at an average price of $20.75 per share, for a total transaction of $378,687.50. Following the completion of the purchase, the insider owned 2,536,205 shares of the company’s stock, valued at approximately $52,626,253.75. The trade was a 0.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more 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. bought 4,365 shares of Mexico Fund stock. The shares were bought at an average cost of $21.06 per share, with a total value of $91,926.90.
  • On Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The shares were bought 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. purchased 15,011 shares of Mexico Fund stock. The shares were bought at an average price of $20.95 per share, with a total value of $314,480.45.
  • On Tuesday, November 3rd, Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock. The stock was 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 bought at an average cost of $20.51 per share, for a total transaction of $4,102.00.
  • On Friday, October 30th, Saba Capital Management, L.P. acquired 15,143 shares of Mexico Fund stock. The stock was purchased at an average price of $20.25 per share, for a total transaction of $306,645.75.
  • On Thursday, October 29th, Saba Capital Management, L.P. bought 23,901 shares of Mexico Fund stock. The stock was 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. purchased 1,121 shares of Mexico Fund stock. The shares were purchased 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 purchased 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. purchased 16,035 shares of Mexico Fund stock. The shares were purchased at an average price of $20.42 per share, with a total value of $327,434.70.

Mexico Fund Price Performance

Shares of MXF opened at $21.06 on Wednesday. The business has a 50-day moving average of $20.69 and a 200 day moving average of $21.42. Mexico Fund, Inc. has a fifty-two week low of $18.62 and a fifty-two week high of $23.00.

Mexico Fund Dividend Announcement

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

More Mexico Fund News

Here are the key news stories impacting Mexico Fund this week:

  • Positive Sentiment: Saba Capital Management, L.P. reported a series of 12 purchases from October 14 through November 9, adding 133,945 MXF shares and bringing its disclosed holdings to 2,540,570 shares. The sustained accumulation may indicate confidence in the fund. SEC filing for latest purchases SEC filing for earlier purchases

Institutional Trading of Mexico Fund

Several hedge funds and other institutional investors have recently modified their holdings of MXF. Almitas Capital LLC purchased a new stake in shares of Mexico Fund during the 2nd quarter valued at approximately $3,736,000. North Ground Capital purchased a new position in Mexico Fund in the 2nd quarter valued at approximately $2,981,931. Public Employees Retirement System of Ohio purchased a new position in Mexico Fund in the 2nd quarter valued at approximately $2,266,000. Saba Capital Management L.P. raised its holdings in Mexico Fund by 4.3% during the 1st 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 acquiring an additional 73,032 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new stake in Mexico Fund during the 2nd quarter valued at $875,000.

Mexico Fund Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Mexico Fund (NYSE:MXF)

Receive News & Ratings for Mexico Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mexico Fund and related companies with MarketBeat.com's FREE daily email newsletter.