Almitas Capital LLC Makes New $3.74 Million Investment in Mexico Fund, Inc. (The) $MXF

Key Points

• Almitas Capital LLC initiated a $3.74 million position in Mexico Fund, purchasing 170,814 shares, or approximately 1.18% of the fund.
• Several other institutional investors increased their MXF holdings, including Altium Capital Management, Saba Capital Management, Allspring Global Investments and Sit Investment Associates.
• MXF shares opened at $22.02, within a $17.81–$23.00 one-year range, while the fund recently paid a $0.35 quarterly dividend, equivalent to a 6.4% annualized yield.

Almitas Capital LLC purchased a new position in shares of Mexico Fund, Inc. (The) (NYSE:MXF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 170,814 shares of the investment management company's stock, valued at approximately $3,736,000. Almitas Capital LLC owned 1.18% of Mexico Fund as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Altium Capital Management LLC boosted 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 buying an additional 79,898 shares during the last quarter. Saba Capital Management L.P. increased its stake in shares of 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 last quarter. North Ground Capital acquired a new position in shares of Mexico Fund during the 2nd quarter valued at about $2,981,931,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Mexico Fund by 2.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company's stock worth $20,548,000 after acquiring an additional 27,983 shares during the period. Finally, Sit Investment Associates Inc. lifted its holdings in shares of Mexico Fund by 144.8% during the 4th quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company's stock worth $1,000,000 after acquiring an additional 29,377 shares during the period.

Mexico Fund Stock Performance

Mexico Fund stock opened at $22.02 on Friday. Mexico Fund, Inc. has a 1 year low of $17.81 and a 1 year high of $23.00. The firm has a 50 day moving average price of $21.65 and a 200 day moving average price of $21.65.

Mexico Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.4%.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 2,952 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $21.41 per share, with a total value of $63,202.32. Following the transaction, the insider owned 2,303,716 shares of the company's stock, valued at $49,322,559.56. This represents a 0.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 205,953 shares of company stock worth $4,495,910. 2.69% of the stock is owned by insiders.

Mexico Fund 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.

Want to see what other hedge funds are holding MXF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mexico Fund, Inc. (The) (NYSE:MXF - Free Report).

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