Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 16,035 Shares of Stock

Key Points

• Saba Capital Management bought 16,035 Mexico Fund shares at an average $20.42 each, spending about $327,435. The purchase increased its reported holdings to 2,422,660 shares, valued at roughly $49.5 million.
• The shareholder also made multiple other purchases in October and November, including 24,115 shares on November 5, indicating a sustained run of buying.
• Mexico Fund shares traded at $21.06 in the reported session. The fund paid a quarterly dividend of $0.35 per share, equivalent to an annualized yield of 6.6%.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 16,035 shares of Mexico Fund stock in a transaction dated Wednesday, October 21st. The shares were bought at an average cost of $20.42 per share, with a total value of $327,434.70. Following the completion of the acquisition, the insider owned 2,422,660 shares of the company's stock, valued at $49,470,717.20. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 bought at an average cost 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 price 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 purchased 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 shares were purchased at an average cost of $20.51 per share, for a total transaction of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.25 per share, with a total value of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. bought 23,901 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.11 per share, for a total transaction of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,121 shares of Mexico Fund stock. The stock was bought at an average price 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 cost of $20.14 per share, for a total transaction of $40,280.00.
• On Wednesday, October 14th, Saba Capital Management, L.P. purchased 12,791 shares of Mexico Fund stock. The shares were purchased at an average price of $19.88 per share, with a total value of $254,285.08.
• On Monday, October 5th, Saba Capital Management, L.P. purchased 25,900 shares of Mexico Fund stock. The shares were acquired at an average price of $20.09 per share, for a total transaction of $520,331.00.

Mexico Fund Trading Up 0.1%

Mexico Fund stock traded up $0.02 during mid-day trading on Tuesday, hitting $21.06. 7,704 shares of the company's stock were exchanged, compared to its average volume of 50,814. The stock has a 50 day moving average of $20.71 and a two-hundred day moving average of $21.42. Mexico Fund, Inc. has a 1-year low of $18.62 and a 1-year high of $23.00.

Mexico Fund Announces Dividend

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

Institutional Trading of Mexico Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Almitas Capital LLC acquired a new position in shares of Mexico Fund during the second quarter valued at about $3,736,000. North Ground Capital acquired a new stake in Mexico Fund during the second quarter worth about $2,981,931. Public Employees Retirement System of Ohio bought a new position in Mexico Fund during the second quarter valued at about $2,266,000. Saba Capital Management L.P. raised 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 acquiring an additional 73,032 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Mexico Fund in the 2nd quarter valued at approximately $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.

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