Mexico Fund (NYSE:MXF) Major Shareholder Purchases $283,534.16 in Stock

Key Points

• Saba Capital Management bought 13,804 Mexico Fund shares on Nov. 3 at an average $20.54 each, spending $283,534.16. Its direct holdings rose to 2,478,829 shares, worth about $50.9 million.
• The purchase was part of a series of recent acquisitions: Saba also bought shares on multiple dates from Oct. 5 through Nov. 5, including 24,115 shares on Nov. 5.
• Mexico Fund shares traded at $21.06 in Tuesday’s session. The fund recently paid a quarterly dividend of $0.35 per share, equivalent to a stated annualized yield of 6.6%.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock in a transaction dated Tuesday, November 3rd. The stock was bought at an average price of $20.54 per share, with a total value of $283,534.16. Following the completion of the purchase, the insider directly owned 2,478,829 shares of the company's stock, valued at approximately $50,915,147.66. This trade represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The stock was acquired 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. acquired 15,011 shares of Mexico Fund stock. The shares were bought at an average cost of $20.95 per share, for a total transaction of $314,480.45.
• On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was purchased at an average price of $20.51 per share, with a total value of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The shares were acquired 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. acquired 23,901 shares of Mexico Fund stock. The shares were purchased at an average price of $20.11 per share, with a total value of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. bought 1,121 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.13 per share, for a total transaction of $22,565.73.
• On Thursday, October 22nd, Saba Capital Management, L.P. bought 2,000 shares of Mexico Fund stock. The shares were purchased 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. acquired 16,035 shares of Mexico Fund stock. The shares were bought at an average cost of $20.42 per share, for a total transaction of $327,434.70.
• On Wednesday, October 14th, Saba Capital Management, L.P. bought 12,791 shares of Mexico Fund stock. The stock was 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. acquired 25,900 shares of Mexico Fund stock. The shares were acquired at an average price of $20.09 per share, with a total value of $520,331.00.

Mexico Fund Stock Performance

Shares of NYSE:MXF traded up $0.02 during trading on Tuesday, reaching $21.06. 7,704 shares of the company were exchanged, compared to its average volume of 50,814. The business's fifty day simple moving average is $20.71 and its 200-day simple moving average is $21.42. Mexico Fund, Inc. has a 12-month low of $18.62 and a 12-month high of $23.00.

Mexico Fund Announces Dividend

The firm also recently disclosed 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 was Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%.

Institutional Investors Weigh In On Mexico Fund

Several hedge funds have recently modified their holdings of the company. Almitas Capital LLC purchased a new position in Mexico Fund during the second quarter worth approximately $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund in the second quarter worth about $2,981,931. Public Employees Retirement System of Ohio acquired a new position in Mexico Fund during the second quarter worth about $2,266,000. Saba Capital Management L.P. boosted its position in Mexico Fund by 4.3% during the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company's stock worth $36,927,000 after acquiring an additional 73,032 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Mexico Fund in the 2nd quarter valued at about $875,000.

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.

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.