Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 2,000 Shares of Stock

Key Points

• Saba Capital Management bought 2,000 MXF shares at an average price of $20.14, spending $40,280. After the purchase, it held 2,424,660 shares, a 0.08% increase in its position.
• The shareholder also made multiple additional purchases in October and November, including 24,115 shares on Nov. 5, continuing a pattern of buying.
• Mexico Fund recently paid a quarterly dividend of $0.35 per share, equivalent to a 6.6% annualized yield. Shares traded at $21.06 in the report’s cited session.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 2,000 shares of the stock in a transaction that occurred on Thursday, October 22nd. The shares were acquired at an average cost of $20.14 per share, with a total value of $40,280.00. Following the completion of the purchase, the insider owned 2,424,660 shares in the company, valued at $48,832,652.40. This represents a 0.08% increase in their position. The transaction 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 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. bought 24,115 shares of Mexico Fund stock. The stock was purchased 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. purchased 15,011 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.95 per share, for a total transaction of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. acquired 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. acquired 200 shares of Mexico Fund stock. The stock was purchased 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 acquired at an average price of $20.25 per share, with a total value of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The stock was 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 stock was bought at an average cost of $20.13 per share, for a total transaction of $22,565.73.
• On Wednesday, October 21st, Saba Capital Management, L.P. purchased 16,035 shares of Mexico Fund stock. The shares were acquired 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. acquired 12,791 shares of Mexico Fund stock. The stock was bought 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. bought 25,900 shares of Mexico Fund stock. The shares were bought at an average cost of $20.09 per share, for a total transaction of $520,331.00.

Mexico Fund Stock Performance

NYSE:MXF traded up $0.02 during mid-day trading on Tuesday, reaching $21.06. The stock had a trading volume of 7,704 shares, compared to its average volume of 50,814. Mexico Fund, Inc. has a 12 month low of $18.62 and a 12 month high of $23.00. The stock has a 50-day simple moving average of $20.71 and a two-hundred day simple moving average of $21.42.

Mexico Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 21st were 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 was Wednesday, October 21st.

Institutional Trading of Mexico Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Mexico Fund in the 2nd quarter worth about $33,000. Susquehanna International Group LLP bought a new stake in Mexico Fund in the second quarter valued at $215,000. Evolve Private Wealth LLC acquired a new position in Mexico Fund during the 2nd quarter worth approximately $278,000. Calamos Advisors LLC grew its stake in Mexico Fund by 6.7% in the third quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company's stock valued at $343,000 after acquiring an additional 1,050 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Mexico Fund by 25.8% in 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 in the last quarter.

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.

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