Mexico Fund (NYSE:MXF) Major Shareholder Purchases 25,900 Shares of Company Stock

Key Points

• Saba Capital Management purchased 25,900 Mexico Fund shares at an average price of $20.09, investing $520,331 and increasing its position by 1.09% to 2.39 million shares.
• Mexico Fund shares declined 0.1% to $20.23, below their 50-day and 200-day moving averages, with a 52-week range of $18.30 to $23.00.
• The fund announced a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 6.9% yield; payment is scheduled for October 29 to shareholders of record as of October 21.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 25,900 shares of the business's stock in a transaction dated Monday, October 5th. The shares were acquired at an average cost of $20.09 per share, for a total transaction of $520,331.00. Following the transaction, the insider directly owned 2,393,834 shares in the company, valued at approximately $48,092,125.06. This represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 2nd, Saba Capital Management, L.P. purchased 1,573 shares of Mexico Fund stock. The shares were purchased at an average price of $19.74 per share, for a total transaction of $31,051.02.
• On Thursday, October 1st, Saba Capital Management, L.P. bought 17,921 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $358,420.00.
• On Wednesday, September 30th, Saba Capital Management, L.P. bought 1,238 shares of Mexico Fund stock. The stock was bought 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 purchased at an average price of $20.74 per share, for a total transaction of $85,718.42.
• On Friday, September 25th, Saba Capital Management, L.P. acquired 834 shares of Mexico Fund stock. The shares were bought at an average cost of $20.74 per share, for a total transaction of $17,297.16.
• On Thursday, September 24th, Saba Capital Management, L.P. acquired 1,049 shares of Mexico Fund stock. The shares were bought at an average price of $20.69 per share, for a total transaction of $21,703.81.
• On Wednesday, September 23rd, Saba Capital Management, L.P. acquired 28,464 shares of Mexico Fund stock. The stock was 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. bought 6,403 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.63 per share, for a total transaction of $132,093.89.

Mexico Fund Trading Down 0.1%

Shares of NYSE MXF traded down $0.01 during midday trading on Wednesday, hitting $20.23. The company's stock had a trading volume of 16,777 shares, compared to its average volume of 51,370. The firm's fifty day moving average price is $21.34 and its 200-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 firm 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 dividend yield of 6.9%. The ex-dividend date is Wednesday, October 21st.

Institutional Investors Weigh In On Mexico Fund

Several institutional investors and hedge funds have recently modified their holdings of MXF. Saba Capital Management L.P. boosted its holdings 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 purchasing an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Mexico Fund by 2.9% during 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 purchasing an additional 27,983 shares during the period. Almitas Capital LLC bought a new position in shares of Mexico Fund in the 2nd quarter worth $3,736,000. North Ground Capital bought a new stake in Mexico Fund in the second quarter valued at approximately $2,981,931. Finally, Altium Capital Management LLC grew its position in shares of Mexico Fund by 165.5% in the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock valued at $2,683,000 after purchasing an additional 79,898 shares during the period.

Mexico Fund Company Profile

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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