Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 4,133 Shares of Company Stock

Key Points

• Saba Capital Management bought 4,133 MXF shares at an average $20.74 each, increasing its ownership by 0.18% to 2,347,202 shares valued at approximately $48.7 million.
• The Mexico Fund’s shares rose 0.5% to $20.80, while trading volume remained below average. The stock has ranged from $18.30 to $23.00 over the past year.
• MXF declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 6.7% yield; the dividend is payable October 29 to shareholders of record October 21.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 4,133 shares of the stock in a transaction dated Monday, September 28th. The shares were bought at an average cost of $20.74 per share, with a total value of $85,718.42. Following the completion of the purchase, the insider directly owned 2,347,202 shares in the company, valued at approximately $48,680,969.48. This trade represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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, September 25th, Saba Capital Management, L.P. bought 834 shares of Mexico Fund stock. The stock was purchased 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. bought 1,049 shares of Mexico Fund stock. The stock was purchased 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. bought 28,464 shares of Mexico Fund stock. The stock was purchased at an average price of $21.02 per share, for a total transaction of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. purchased 110 shares of Mexico Fund stock. The shares were purchased at an average cost 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 shares were purchased at an average price of $21.03 per share, with a total value of $42,775.02.
• On Wednesday, September 16th, Saba Capital Management, L.P. acquired 6,403 shares of Mexico Fund stock. The stock was purchased 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 stock was purchased at an average cost of $20.89 per share, for a total transaction of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. purchased 2,952 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.41 per share, for a total transaction of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The shares were acquired at an average price of $22.19 per share, with a total value of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. acquired 3,077 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.34 per share, with a total value of $65,663.18.

Mexico Fund Trading Up 0.5%

Shares of MXF traded up $0.10 during midday trading on Tuesday, reaching $20.80. 12,278 shares of the company were exchanged, compared to its average volume of 51,924. Mexico Fund, Inc. has a 1-year low of $18.30 and a 1-year high of $23.00. The stock has a 50-day moving average price of $21.49 and a 200-day moving average price of $21.51.

Mexico Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $1.40 annualized dividend and a yield of 6.7%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new stake in Mexico Fund during the 2nd quarter valued at $33,000. Uhlmann Price Securities LLC increased its holdings in shares of Mexico Fund by 1.9% during the first quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company's stock valued at $2,243,000 after purchasing an additional 2,013 shares during the period. Calamos Advisors LLC increased its holdings in shares of Mexico Fund by 13.5% during the first quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company's stock valued at $446,000 after purchasing an additional 2,535 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Mexico Fund during the second quarter valued at about $215,000. Finally, Evolve Private Wealth LLC bought a new stake in shares of Mexico Fund during the second quarter valued at about $278,000.

Mexico Fund Company Profile

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico's economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.

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