Saba Capital Management, L.P. Acquires 11,081 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 11,081 shares of the stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average price of $21.39 per share, for a total transaction of $237,022.59. Following the completion of the transaction, the insider owned 2,200,068 shares in the company, valued at $47,059,454.52. This trade represents a 0.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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, June 9th, Saba Capital Management, L.P. purchased 3,600 shares of Mexico Fund stock. The shares were purchased at an average price of $21.14 per share, for a total transaction of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. purchased 19,906 shares of Mexico Fund stock. The shares were purchased at an average price of $21.64 per share, for a total transaction of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. purchased 32,102 shares of Mexico Fund stock. The shares were purchased at an average price of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. bought 31,949 shares of Mexico Fund stock. The stock was bought at an average price of $22.16 per share, for a total transaction of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. bought 9,633 shares of Mexico Fund stock. The stock was bought at an average price of $22.24 per share, for a total transaction of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. bought 708 shares of Mexico Fund stock. The stock was bought at an average price of $21.90 per share, for a total transaction of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. bought 18,466 shares of Mexico Fund stock. The stock was bought at an average price of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. bought 6,700 shares of Mexico Fund stock. The stock was bought at an average price of $22.16 per share, for a total transaction of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. bought 44,608 shares of Mexico Fund stock. The stock was bought at an average price of $22.27 per share, for a total transaction of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. bought 14,402 shares of Mexico Fund stock. The stock was bought at an average price of $21.99 per share, for a total transaction of $316,699.98.

Mexico Fund Stock Performance

Shares of NYSE MXF opened at $22.28 on Friday. The stock’s fifty day simple moving average is $21.75 and its 200 day simple moving average is $21.20. Mexico Fund, Inc. has a 52-week low of $16.43 and a 52-week high of $23.00.

Mexico Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, July 22nd.

Hedge Funds Weigh In On Mexico Fund

A number of hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. grew its holdings in shares of Mexico Fund by 4.3% in the 1st quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock worth $36,927,000 after acquiring an additional 73,032 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Mexico Fund by 2.9% during 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 buying an additional 27,983 shares during the period. Calamos Advisors LLC lifted its stake in Mexico Fund by 13.5% in the 1st quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock worth $446,000 after acquiring an additional 2,535 shares in the last quarter. Altium Capital Management LLC lifted its stake in Mexico Fund by 165.5% in the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after acquiring an additional 79,898 shares in the last quarter. Finally, Uhlmann Price Securities LLC lifted its stake in Mexico Fund by 1.9% in the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock worth $2,243,000 after acquiring an additional 2,013 shares in the last quarter.

Mexico Fund Company Profile

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.