Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 15,011 Shares of Stock

Key Points

• Saba Capital Management bought 15,011 Mexico Fund shares at an average of $20.95 each, spending about $314,480. After the purchase, it directly held 2,493,840 shares valued at roughly $52.25 million.
• The purchase was part of a series of recent acquisitions, including 24,115 shares on November 5 and additional buys in October and early November.
• Mexico Fund shares traded at $21.06 in the article’s report, and the fund had paid a quarterly dividend of $0.35 per share—equivalent to a 6.6% annualized yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 15,011 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average price of $20.95 per share, for a total transaction of $314,480.45. Following the acquisition, the insider directly owned 2,493,840 shares of the company's stock, valued at $52,245,948. This trade represents a 0.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% 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 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, for a total transaction of $499,662.80.
• On Tuesday, November 3rd, Saba Capital Management, L.P. bought 13,804 shares of Mexico Fund stock. The stock was bought at an average cost 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 stock was bought at an average cost 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 bought at an average price of $20.25 per share, for a total transaction of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. bought 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 shares were bought 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. purchased 2,000 shares of Mexico Fund stock. The stock was bought 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 stock was purchased at an average cost of $20.42 per share, with a total value of $327,434.70.
• On Wednesday, October 14th, Saba Capital Management, L.P. acquired 12,791 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.88 per share, with a total value of $254,285.08.
• On Monday, October 5th, Saba Capital Management, L.P. acquired 25,900 shares of Mexico Fund stock. The shares were purchased at an average price of $20.09 per share, for a total transaction of $520,331.00.

Mexico Fund Trading Up 0.1%

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

Mexico Fund Dividend Announcement

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

Institutional Trading of Mexico Fund

A number of hedge funds and other institutional investors have recently modified their holdings of MXF. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mexico Fund in the second quarter worth about $33,000. Susquehanna International Group LLP acquired a new stake in Mexico Fund during the 2nd quarter valued at approximately $215,000. Evolve Private Wealth LLC acquired a new stake in Mexico Fund during the 2nd quarter valued at approximately $278,000. Calamos Advisors LLC increased 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 worth $343,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Mexico Fund by 25.8% during 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 last quarter.

Mexico Fund Company Profile

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.

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