Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases 1,121 Shares of Stock

Key Points

• Saba Capital Management bought 1,121 Mexico Fund shares at an average of $20.13, spending about $22,566. After the purchase, it owned 2,425,781 shares valued at approximately $48.8 million.
• The purchase is part of a series of recent acquisitions: Saba also bought shares in multiple transactions from October 5 through November 5, including 24,115 shares on November 5.
• MXF traded at $21.06 in the report, within its 12-month range of $18.62–$23.00. The fund’s quarterly dividend of $0.35 per share equates to a 6.6% annualized yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 1,121 shares of Mexico Fund stock in a transaction that occurred on Wednesday, October 28th. The stock was acquired at an average price of $20.13 per share, with a total value of $22,565.73. Following the completion of the acquisition, the insider directly owned 2,425,781 shares in the company, valued at $48,830,971.53. This represents a 0.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The shares were bought 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 bought 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. acquired 13,804 shares of Mexico Fund stock. The shares were bought at an average cost 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 shares were bought at an average price of $20.51 per share, for a total transaction of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The stock was bought at an average price of $20.25 per share, for a total transaction of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. bought 23,901 shares of Mexico Fund stock. The stock was bought at an average cost of $20.11 per share, with a total value of $480,649.11.
• On Thursday, October 22nd, Saba Capital Management, L.P. bought 2,000 shares of Mexico Fund stock. The shares were bought at an average price 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 bought at an average price of $20.42 per share, with a total value of $327,434.70.
• On Wednesday, October 14th, Saba Capital Management, L.P. purchased 12,791 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.88 per share, for a total transaction of $254,285.08.
• On Monday, October 5th, Saba Capital Management, L.P. purchased 25,900 shares of Mexico Fund stock. The stock was purchased at an average price of $20.09 per share, for a total transaction of $520,331.00.

Mexico Fund Stock Performance

Shares of MXF traded up $0.02 during trading hours on Tuesday, hitting $21.06. The stock had a trading volume of 7,704 shares, compared to its average volume of 50,814. Mexico Fund, Inc. has a 12 month low of $18.62 and a 12 month high of $23.00. The stock has a fifty day moving average price of $20.71 and a 200 day moving average price of $21.42.

Mexico Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Investors 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 annualized dividend and a yield of 6.6%.

Institutional Trading of Mexico Fund

A number of hedge funds and other institutional investors have recently modified their holdings of MXF. Beverly Hills Private Wealth LLC boosted its stake in shares of Mexico Fund by 13.2% in the third quarter. Beverly Hills Private Wealth LLC now owns 41,537 shares of the investment management company's stock worth $847,000 after acquiring an additional 4,855 shares during the period. Uhlmann Price Securities LLC grew its position in shares of Mexico Fund by 2.3% during the third quarter. Uhlmann Price Securities LLC now owns 113,006 shares of the investment management company's stock worth $2,304,000 after purchasing an additional 2,544 shares in the last quarter. Calamos Advisors LLC grew its position in shares of Mexico Fund by 6.7% during the third quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company's stock worth $343,000 after purchasing an additional 1,050 shares in the last quarter. City of London Investment Management Co. Ltd. raised its stake in Mexico Fund by 0.6% during the 3rd quarter. City of London Investment Management Co. Ltd. now owns 3,230,491 shares of the investment management company's stock valued at $65,870,000 after purchasing an additional 19,166 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its stake in Mexico Fund by 25.8% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company's stock valued at $774,000 after purchasing an additional 7,774 shares during the period.

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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