Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases $676,118.34 in Stock

Key Points

• Saba Capital Management bought 31,698 Mexico Fund shares at an average $21.33 each, spending about $676,118. Its holding rose 1.25% to 2,576,030 shares, valued at roughly $54.9 million.
• The purchase adds to a series of Saba acquisitions in late October and November. MXF shares slipped 0.6% to $21.11 in Thursday trading.
• Mexico Fund recently paid a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a reported 6.6% yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 31,698 shares of Mexico Fund stock in a transaction on Wednesday, November 11th. The shares were bought at an average cost of $21.33 per share, for a total transaction of $676,118.34. Following the completion of the purchase, the insider directly owned 2,576,030 shares of the company's stock, valued at $54,946,719.90. The trade was a 1.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% 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, November 10th, Saba Capital Management, L.P. acquired 3,762 shares of Mexico Fund stock. The shares were bought at an average price of $21.05 per share, for a total transaction of $79,190.10.
• On Monday, November 9th, Saba Capital Management, L.P. acquired 4,365 shares of Mexico Fund stock. The shares were bought at an average price of $21.06 per share, for a total transaction of $91,926.90.
• On Friday, November 6th, Saba Capital Management, L.P. acquired 18,250 shares of Mexico Fund stock. The stock was bought at an average cost of $20.75 per share, with a total value of $378,687.50.
• On Thursday, November 5th, Saba Capital Management, L.P. acquired 24,115 shares of Mexico Fund stock. The stock was bought at an average cost of $20.72 per share, with a total value of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. bought 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. bought 13,804 shares of Mexico Fund stock. The stock was bought 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. bought 200 shares of Mexico Fund stock. The shares were bought 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. bought 15,143 shares of Mexico Fund stock. The shares were bought at an average cost of $20.25 per share, for a total transaction of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The shares were bought at an average price of $20.11 per share, for a total transaction of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The stock was bought at an average price of $20.13 per share, with a total value of $22,565.73.

Mexico Fund Stock Down 0.6%

MXF traded down $0.12 during trading on Thursday, reaching $21.11. The company had a trading volume of 17,722 shares, compared to its average volume of 50,699. The business has a 50 day simple moving average of $20.69 and a 200-day simple moving average of $21.42. Mexico Fund, Inc. has a 52 week low of $18.62 and a 52 week high of $23.00.

Mexico Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, October 21st. This represents a $1.40 annualized dividend and a dividend yield of 6.6%.

Institutional Investors Weigh In On Mexico Fund

Several institutional investors have recently made changes to their positions in MXF. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Mexico Fund during the 2nd quarter worth about $33,000. Susquehanna International Group LLP bought a new position in Mexico Fund during the 2nd quarter valued at about $215,000. Evolve Private Wealth LLC bought a new position in Mexico Fund during the 2nd quarter valued at about $278,000. Calamos Advisors LLC grew its holdings in Mexico Fund by 6.7% during the 3rd quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company's stock valued at $343,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its position in Mexico Fund by 25.8% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company's stock worth $774,000 after purchasing an additional 7,774 shares during the period.

About Mexico Fund

The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.

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