Mexico Fund (NYSE:MXF) Major Shareholder Acquires 2,034 Shares

Key Points

• Saba Capital Management purchased 2,034 Mexico Fund shares at $21.03 each, spending $42,775.02. Its position rose 0.09% to 2.31 million shares, valued at approximately $48.6 million.
• Mexico Fund shares rose 0.7% to $21.06, while trading volume remained below average. The stock has traded between $18.30 and $23.00 over the past year.
• The fund announced a quarterly dividend of $0.35 per share, payable October 29 to shareholders of record October 21, representing a 6.6% annualized yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 2,034 shares of the stock in a transaction on Monday, September 21st. The shares were bought at an average price of $21.03 per share, for a total transaction of $42,775.02. Following the purchase, the insider directly owned 2,312,612 shares in the company, valued at approximately $48,634,230.36. This trade represents a 0.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major 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 Wednesday, September 16th, Saba Capital Management, L.P. purchased 6,403 shares of Mexico Fund stock. The stock was bought at an average price of $20.63 per share, with a total value of $132,093.89.
• On Tuesday, September 15th, Saba Capital Management, L.P. acquired 459 shares of Mexico Fund stock. The shares were bought at an average price of $20.89 per share, for a total transaction of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. bought 2,952 shares of Mexico Fund stock. The stock was bought at an average price of $21.41 per share, for a total transaction of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. bought 9,362 shares of Mexico Fund stock. The stock was bought at an average cost of $22.19 per share, with a total value of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock. The shares were bought 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. purchased 2,608 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.56 per share, for a total transaction of $56,228.48.
• On Wednesday, July 22nd, Saba Capital Management, L.P. purchased 7,623 shares of Mexico Fund stock. The stock was purchased at an average price of $21.80 per share, for a total transaction of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. acquired 414 shares of Mexico Fund stock. The shares were purchased 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. bought 200 shares of Mexico Fund stock. The stock was purchased 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 stock was purchased at an average cost of $21.49 per share, for a total transaction of $163,990.19.

Mexico Fund Trading Up 0.7%

Shares of Mexico Fund stock traded up $0.15 during trading hours on Tuesday, reaching $21.06. 19,096 shares of the stock traded hands, compared to its average volume of 52,867. The company has a 50 day moving average price of $21.57 and a 200 day moving average price of $21.52. Mexico Fund, Inc. has a one year low of $18.30 and a one year high of $23.00.

Mexico Fund Dividend Announcement

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

Institutional Trading of Mexico Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP purchased a new position in shares of Mexico Fund during the 2nd quarter valued at about $215,000. Public Employees Retirement System of Ohio purchased a new stake in Mexico Fund in the 2nd quarter worth approximately $2,266,000. Almitas Capital LLC bought a new stake in Mexico Fund during the 2nd quarter worth approximately $3,736,000. North Ground Capital bought a new stake in Mexico Fund during the 2nd quarter worth approximately $2,981,931. Finally, Hudson Portfolio Management LLC bought a new stake in Mexico Fund during the 2nd quarter worth approximately $784,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.