Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires $63,202.32 in Stock

Key Points

• Saba Capital Management, Mexico Fund’s major shareholder, bought 2,952 shares at $21.41 each, investing $63,202.32 and increasing its position by 0.13% to 2.3 million shares.
• The purchase continues a series of recent acquisitions by Saba, which has bought Mexico Fund shares in multiple transactions since June.
• Mexico Fund shares recently traded at $21.37, down 0.6%, while the fund maintained a quarterly dividend of $0.35 per share, equivalent to a 6.6% annualized yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 2,952 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $21.41 per share, with a total value of $63,202.32. Following the completion of the acquisition, the insider owned 2,303,716 shares in the company, valued at approximately $49,322,559.56. This trade represents a 0.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.19 per share, for a total transaction of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock. The shares were acquired at an average price of $21.34 per share, for a total transaction of $65,663.18.
• On Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.56 per share, with a total value of $56,228.48.
• On Wednesday, July 22nd, Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.80 per share, with a total value of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. bought 414 shares of Mexico Fund stock. The stock was acquired at an average price of $21.11 per share, with a total value of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.52 per share, for a total transaction of $4,304.00.
• On Monday, July 20th, Saba Capital Management, L.P. bought 7,631 shares of Mexico Fund stock. The shares were bought at an average cost of $21.49 per share, for a total transaction of $163,990.19.
• On Wednesday, July 8th, Saba Capital Management, L.P. acquired 522 shares of Mexico Fund stock. The shares were bought at an average cost of $21.26 per share, for a total transaction of $11,097.72.
• On Tuesday, July 7th, Saba Capital Management, L.P. purchased 1,828 shares of Mexico Fund stock. The stock was purchased at an average price of $21.73 per share, for a total transaction of $39,722.44.
• On Wednesday, June 24th, Saba Capital Management, L.P. purchased 5,100 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.31 per share, with a total value of $108,681.00.

Mexico Fund Stock Down 0.6%

Shares of NYSE MXF traded down $0.13 during mid-day trading on Monday, reaching $21.37. 11,607 shares of the company's stock traded hands, compared to its average volume of 56,275. Mexico Fund, Inc. has a 1-year low of $17.81 and a 1-year high of $23.00. The business has a 50-day simple moving average of $21.67 and a 200 day simple moving average of $21.67.

Mexico Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 22nd. This represents a $1.40 annualized dividend and a yield of 6.6%.

Hedge Funds Weigh In On Mexico Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in MXF. Farther Finance Advisors LLC increased its holdings in Mexico Fund by 775.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock worth $27,000 after acquiring an additional 1,194 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Mexico Fund in the 2nd quarter worth approximately $33,000. Blue Bell Private Wealth Management LLC grew its stake in Mexico Fund by 109.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company's stock valued at $105,000 after buying an additional 2,735 shares in the last quarter. Evolve Private Wealth LLC purchased a new position in Mexico Fund in the 2nd quarter valued at approximately $278,000. Finally, Calamos Advisors LLC raised its holdings in Mexico Fund by 32.1% during the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company's stock valued at $378,000 after acquiring an additional 4,563 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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