Mexico Fund (NYSE:MXF) Major Shareholder Purchases 17,921 Shares of Stock

Key Points

• Saba Capital Management bought 17,921 shares of Mexico Fund at $20.00 each, increasing its position by 0.76% to 2.37 million shares valued at approximately $47.3 million. The purchase follows multiple additional acquisitions in recent weeks.
• Mexico Fund shares rose 0.7% to $20.06, remaining below their 50-day and 200-day moving averages and within a 52-week range of $18.30 to $23.00.
• The fund declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 7.0% yield; several institutional investors also established new positions during the second quarter.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 17,921 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was purchased at an average price of $20.00 per share, with a total value of $358,420.00. Following the acquisition, the insider owned 2,366,361 shares of the company's stock, valued at $47,327,220. This represents a 0.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 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 Friday, October 2nd, Saba Capital Management, L.P. bought 1,573 shares of Mexico Fund stock. The shares were acquired at an average price of $19.74 per share, for a total transaction of $31,051.02.
• On Wednesday, September 30th, Saba Capital Management, L.P. bought 1,238 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.39 per share, for a total transaction of $25,242.82.
• On Monday, September 28th, Saba Capital Management, L.P. purchased 4,133 shares of Mexico Fund stock. The stock was acquired at an average price of $20.74 per share, with a total value of $85,718.42.
• On Friday, September 25th, Saba Capital Management, L.P. purchased 834 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.74 per share, with a total value of $17,297.16.
• On Thursday, September 24th, Saba Capital Management, L.P. acquired 1,049 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.69 per share, for a total transaction of $21,703.81.
• On Wednesday, September 23rd, Saba Capital Management, L.P. bought 28,464 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.02 per share, with a total value of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. bought 110 shares of Mexico Fund stock. The shares were acquired at an average price of $20.90 per share, with a total value of $2,299.00.
• On Monday, September 21st, Saba Capital Management, L.P. purchased 2,034 shares of Mexico Fund stock. The stock was bought at an average cost of $21.03 per share, for a total transaction of $42,775.02.
• 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, for a total transaction 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 cost of $20.89 per share, with a total value of $9,588.51.

Mexico Fund Stock Up 0.7%

NYSE:MXF traded up $0.13 during trading hours on Monday, reaching $20.06. 27,242 shares of the company traded hands, compared to its average volume of 51,430. The business's 50-day moving average price is $21.39 and its two-hundred day moving average price is $21.50. Mexico Fund, Inc. has a 1 year low of $18.30 and a 1 year high of $23.00.

Mexico Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 21st will be paid a $0.35 dividend. The ex-dividend date is Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a yield of 7.0%.

Institutional Inflows and Outflows

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

About Mexico Fund

The Mexico Fund, Inc NYSE: MXF is a non-diversified, closed-end investment company focused on providing long-term capital appreciation through investments in securities of Mexican companies. The fund primarily invests in publicly traded equities, although it may also hold other investments that provide exposure to Mexico's economy and financial markets.

MXF offers investors a vehicle for gaining diversified exposure to Mexico across multiple industries and sectors. Its portfolio may include companies that operate in areas such as consumer goods, financial services, telecommunications, industrials, materials, and other segments of the Mexican economy.

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