Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $132,093.89 in Stock

Key Points

• Saba Capital Management purchased 6,403 Mexico Fund shares at an average price of $20.63, investing $132,093.89 and increasing its ownership by 0.28% to 2.31 million shares.
• The Mexico Fund recently declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 6.6% yield.
• MXF traded at $21.34, within its 52-week range of $18.30 to $23.00, while several institutional investors—including Almitas Capital and North Ground Capital—established or increased positions.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 6,403 shares of the stock in a transaction on Wednesday, September 16th. The shares were bought at an average price of $20.63 per share, with a total value of $132,093.89. Following the acquisition, the insider owned 2,310,578 shares of the company's stock, valued at $47,667,224.14. This trade represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large 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, September 15th, Saba Capital Management, L.P. bought 459 shares of Mexico Fund stock. The stock was purchased at an average price of $20.89 per share, with a total value of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. bought 2,952 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.41 per share, with a total value of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. purchased 9,362 shares of Mexico Fund stock. The shares were 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. acquired 3,077 shares of Mexico Fund stock. The shares were acquired at an average price of $21.34 per share, with a total value of $65,663.18.
• On Tuesday, July 28th, Saba Capital Management, L.P. acquired 2,608 shares of Mexico Fund stock. The stock was 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. acquired 7,623 shares of Mexico Fund stock. The stock was 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 shares were acquired at an average price of $21.11 per share, for a total transaction of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. bought 200 shares of Mexico Fund stock. The shares were 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 acquired 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. purchased 522 shares of Mexico Fund stock. The stock was acquired at an average price of $21.26 per share, with a total value of $11,097.72.

Mexico Fund Price Performance

NYSE MXF traded up $0.17 during trading on Thursday, hitting $21.34. The company's stock had a trading volume of 14,245 shares, compared to its average volume of 53,276. The business's 50 day simple moving average is $21.59 and its 200-day simple moving average is $21.54. Mexico Fund, Inc. has a fifty-two week low of $18.30 and a fifty-two week high of $23.00.

Mexico Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 21st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Wednesday, October 21st.

Institutional Trading of Mexico Fund

Several large investors have recently bought and sold shares of the stock. Almitas Capital LLC acquired a new position in shares of Mexico Fund in the second quarter valued at about $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund in the second quarter worth about $2,981,931. Public Employees Retirement System of Ohio acquired a new stake in shares of Mexico Fund during the second quarter worth about $2,266,000. Altium Capital Management LLC lifted its holdings in shares of Mexico Fund by 165.5% during the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock worth $2,683,000 after purchasing an additional 79,898 shares during the period. Finally, Saba Capital Management L.P. boosted its position in Mexico Fund by 4.3% in the first 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 buying an additional 73,032 shares during the last quarter.

Mexico Fund Company Profile

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico's economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.

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