Altium Capital Management LLC Boosts Stock Holdings in Mexico Fund, Inc. (The) $MXF

Key Points

• Altium Capital Management LLC boosted its stake in Mexico Fund by 165.5% in the first quarter, adding 79,898 shares to bring its total holdings to 128,185 shares worth about $2.68 million.
• Mexico Fund announced a quarterly dividend of $0.35 per share, payable July 30 to shareholders of record on July 22, implying an annualized yield of 6.5%.
• Insider buying remained active, with major shareholder Saba Capital Management purchasing 100,000 shares in April; insiders have bought 481,338 shares worth about $10.5 million over the last 90 days.

Altium Capital Management LLC increased its stake in Mexico Fund, Inc. (The) (NYSE:MXF - Free Report) by 165.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,185 shares of the investment management company's stock after buying an additional 79,898 shares during the period. Mexico Fund accounts for about 6.4% of Altium Capital Management LLC's portfolio, making the stock its 8th largest position. Altium Capital Management LLC owned 0.89% of Mexico Fund worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sit Investment Associates Inc. lifted its holdings in shares of Mexico Fund by 144.8% in the 4th quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company's stock worth $1,000,000 after buying an additional 29,377 shares during the period. Saba Capital Management L.P. raised its holdings in shares of Mexico Fund by 32.4% in the fourth quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company's stock valued at $34,063,000 after acquiring an additional 413,606 shares in the last quarter. North Ground Capital lifted its stake in Mexico Fund by 309.2% in the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company's stock worth $2,544,000 after acquiring an additional 95,443 shares during the period. Verition Fund Management LLC lifted its stake in Mexico Fund by 21.7% in the third quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company's stock worth $1,960,000 after acquiring an additional 17,747 shares during the period. Finally, Marex Group plc bought a new position in Mexico Fund during the 4th quarter worth about $1,926,000.

Mexico Fund Trading Up 0.9%

NYSE MXF traded up $0.19 during trading on Friday, reaching $21.64. 23,121 shares of the company's stock traded hands, compared to its average volume of 30,466. Mexico Fund, Inc. has a 12-month low of $16.57 and a 12-month high of $23.00. The company's 50 day simple moving average is $21.80 and its two-hundred day simple moving average is $21.51.

Mexico Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Wednesday, July 22nd.

Insider Transactions at Mexico Fund

In other Mexico Fund news, major shareholder Saba Capital Management, L.P. acquired 100,000 shares of Mexico Fund stock in a transaction that occurred on Wednesday, April 22nd. The stock was bought at an average price of $21.83 per share, with a total value of $2,183,000.00. Following the completion of the purchase, the insider directly owned 1,884,830 shares of the company's stock, valued at approximately $41,145,838.90. This represents a 5.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 481,338 shares of company stock worth $10,542,506 over the last 90 days. Company insiders own 2.69% of the company's stock.

About Mexico Fund

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.