Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $91,926.90 in Stock

Key Points

• Saba Capital Management bought 4,365 Mexico Fund shares at an average $21.06 each, spending $91,926.90. The purchase increased its position by 0.17% to 2,540,570 shares, valued at about $53.5 million.
• The purchase adds to a series of recent acquisitions by Saba, which has disclosed buying shares on multiple dates in October and November.
• Mexico Fund shares recently traded at $21.06, within a 52-week range of $18.62 to $23.00. The fund’s quarterly dividend of $0.35 per share equates to $1.40 annualized and a 6.6% yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 4,365 shares of the firm's stock in a transaction on Monday, November 9th. The stock was purchased at an average price of $21.06 per share, with a total value of $91,926.90. Following the transaction, the insider owned 2,540,570 shares of the company's stock, valued at approximately $53,504,404.20. This trade represents a 0.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Friday, November 6th, Saba Capital Management, L.P. bought 18,250 shares of Mexico Fund stock. The shares were acquired at an average price of $20.75 per share, for a total transaction of $378,687.50.
• On Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The shares were acquired at an average price of $20.72 per share, for a total transaction of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. purchased 15,011 shares of Mexico Fund stock. The stock was acquired at an average price of $20.95 per share, with a total value of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock. The stock was acquired at an average price of $20.54 per share, with a total value of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.51 per share, for a total transaction of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. acquired 15,143 shares of Mexico Fund stock. The stock was acquired at an average price of $20.25 per share, with a total value of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The stock was acquired at an average price of $20.11 per share, with a total value of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. bought 1,121 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.13 per share, with a total value of $22,565.73.
• On Thursday, October 22nd, Saba Capital Management, L.P. bought 2,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.14 per share, with a total value of $40,280.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 16,035 shares of Mexico Fund stock. The shares were acquired at an average price of $20.42 per share, for a total transaction of $327,434.70.

Mexico Fund Price Performance

Mexico Fund stock traded up $0.02 during trading on Tuesday, reaching $21.06. The company had a trading volume of 15,459 shares, compared to its average volume of 50,850. The firm's 50-day simple moving average is $20.71 and its 200 day simple moving average is $21.42. Mexico Fund, Inc. has a 1-year low of $18.62 and a 1-year high of $23.00.

Mexico Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%.

More Mexico Fund News

Here are the key news stories impacting Mexico Fund this week:

• Positive Sentiment: Saba’s disclosed purchases indicate sustained buying by a significant shareholder, totaling 111,330 additional shares from the reported October 14 holding through November 5. SEC filing

Institutional Trading of Mexico Fund

Several institutional investors have recently modified their holdings of MXF. City of London Investment Management Co. Ltd. increased its stake in shares of Mexico Fund by 0.6% during the third quarter. City of London Investment Management Co. Ltd. now owns 3,230,491 shares of the investment management company's stock worth $65,870,000 after purchasing an additional 19,166 shares in the last quarter. Saba Capital Management L.P. lifted its stake in Mexico Fund by 4.3% in 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 buying an additional 73,032 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Mexico Fund by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company's stock valued at $20,548,000 after buying an additional 27,983 shares in the last quarter. Almitas Capital LLC purchased a new position in Mexico Fund in the 2nd quarter valued at about $3,736,000. Finally, North Ground Capital acquired a new stake in Mexico Fund in the 2nd quarter worth about $2,981,931.

About Mexico Fund

The Mexico Fund, Inc. NYSE: MXF is a closed-end investment company focused on providing investors with exposure to Mexico's financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.

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