Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 100,000 Shares of Stock

Key Points

• Saba Capital Management bought 100,000 shares of Mexico Fund (NYSE:MXF) on April 22 at an average price of $21.83, spending $2.183M and raising its direct holdings to 1,884,830 shares (a 5.60% increase) valued at about $41.15M.
• The firm has been steadily accumulating MXF through multiple smaller purchases in March and April, signaling ongoing insider buying activity.
• Mexico Fund announced a quarterly dividend of $0.35 per share (ex-dividend date April 22, payable April 30), equal to an annualized $1.40 and a yield of about 6.5%.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 100,000 shares of the business's stock in a transaction on Wednesday, April 22nd. The stock was acquired at an average price of $21.83 per share, with a total value of $2,183,000.00. Following the purchase, the insider directly owned 1,884,830 shares in the company, valued at $41,145,838.90. This represents a 5.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major 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 Tuesday, April 21st, Saba Capital Management, L.P. purchased 3,505 shares of Mexico Fund stock. The stock was acquired at an average price of $21.86 per share, with a total value of $76,619.30.
• On Friday, April 17th, Saba Capital Management, L.P. purchased 179 shares of Mexico Fund stock. The stock was acquired at an average price of $22.00 per share, with a total value of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. acquired 2,200 shares of Mexico Fund stock. The shares were bought at an average cost of $22.17 per share, with a total value of $48,774.00.
• On Monday, April 6th, Saba Capital Management, L.P. acquired 3,814 shares of Mexico Fund stock. The shares were bought at an average cost of $21.23 per share, with a total value of $80,971.22.
• On Thursday, April 2nd, Saba Capital Management, L.P. acquired 10,800 shares of Mexico Fund stock. The shares were bought at an average cost of $21.28 per share, with a total value of $229,824.00.
• On Friday, March 20th, Saba Capital Management, L.P. acquired 2,871 shares of Mexico Fund stock. The shares were bought at an average cost of $19.83 per share, with a total value of $56,931.93.
• On Wednesday, March 18th, Saba Capital Management, L.P. acquired 5,000 shares of Mexico Fund stock. The shares were purchased at an average price of $20.38 per share, with a total value of $101,900.00.
• On Friday, March 13th, Saba Capital Management, L.P. acquired 2,600 shares of Mexico Fund stock. The shares were purchased at an average price of $20.21 per share, with a total value of $52,546.00.
• On Thursday, March 12th, Saba Capital Management, L.P. bought 456 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.35 per share, with a total value of $9,279.60.
• On Tuesday, March 10th, Saba Capital Management, L.P. bought 1,005 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.94 per share, with a total value of $21,044.70.

Mexico Fund Stock Down 0.3%

NYSE MXF traded down $0.06 on Thursday, hitting $21.60. 41,679 shares of the stock were exchanged, compared to its average volume of 66,706. Mexico Fund, Inc. has a 52-week low of $15.21 and a 52-week high of $23.00. The stock has a fifty day moving average price of $21.51 and a two-hundred day moving average price of $20.55.

Mexico Fund Dividend Announcement

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

Hedge Funds Weigh In On Mexico Fund

Several hedge funds have recently modified their holdings of the stock. Uhlmann Price Securities LLC grew its position in Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company's stock worth $2,243,000 after purchasing an additional 2,013 shares during the last quarter. Alpine Global Management LLC grew its holdings in shares of Mexico Fund by 356.7% during the fourth quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company's stock valued at $1,237,000 after buying an additional 47,979 shares during the last quarter. Sit Investment Associates Inc. increased its position 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 valued at $1,000,000 after acquiring an additional 29,377 shares during the period. Saba Capital Management L.P. raised its stake in Mexico Fund by 32.4% in the 4th quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company's stock worth $34,063,000 after acquiring an additional 413,606 shares during the last quarter. Finally, North Ground Capital lifted its position in Mexico Fund by 309.2% during the 4th 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.

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.

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