Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Acquires 1,238 Shares

Key Points

• Saba Capital Management acquired 1,238 MXF shares at an average price of $20.39, increasing its position by 0.05% to 2,348,440 shares valued at approximately $47.9 million.
• MXF traded down $0.50 to $19.89, within a 52-week range of $18.30 to $23.00. The stock’s 50-day and 200-day moving averages were $21.44 and $21.51, respectively.
• Mexico Fund declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 7.0% dividend yield; payment is scheduled for October 29 to shareholders of record on October 21.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 1,238 shares of the firm's stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of $20.39 per share, for a total transaction of $25,242.82. Following the completion of the transaction, the insider directly owned 2,348,440 shares in the company, valued at approximately $47,884,691.60. This represents a 0.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Monday, September 28th, Saba Capital Management, L.P. bought 4,133 shares of Mexico Fund stock. The stock was bought at an average price of $20.74 per share, with a total value of $85,718.42.
• On Friday, September 25th, Saba Capital Management, L.P. purchased 834 shares of Mexico Fund stock. The shares were bought at an average price of $20.74 per share, for a total transaction of $17,297.16.
• On Thursday, September 24th, Saba Capital Management, L.P. acquired 1,049 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.69 per share, with a total value of $21,703.81.
• On Wednesday, September 23rd, Saba Capital Management, L.P. purchased 28,464 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.02 per share, with a total value of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. acquired 110 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.90 per share, for a total transaction of $2,299.00.
• On Monday, September 21st, Saba Capital Management, L.P. acquired 2,034 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.03 per share, with a total value of $42,775.02.
• On Wednesday, September 16th, Saba Capital Management, L.P. bought 6,403 shares of Mexico Fund stock. The shares were acquired at an average price of $20.63 per share, with a total value of $132,093.89.
• On Tuesday, September 15th, Saba Capital Management, L.P. bought 459 shares of Mexico Fund stock. The shares were acquired 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 stock was acquired at an average price of $21.41 per share, for a total transaction of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. purchased 9,362 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.19 per share, with a total value of $207,742.78.

Mexico Fund Price Performance

MXF traded down $0.50 during trading hours on Thursday, reaching $19.89. 43,430 shares of the company's stock traded hands, compared to its average volume of 51,755. The firm has a 50-day moving average price of $21.44 and a 200 day moving average price of $21.51. Mexico Fund, Inc. has a 52-week low of $18.30 and a 52-week high of $23.00.

Mexico Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st will be issued a $0.35 dividend. The ex-dividend date is Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.0%.

Institutional Investors Weigh In On Mexico Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MXF. Saba Capital Management L.P. grew its stake 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 worth $36,927,000 after acquiring an additional 73,032 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Mexico Fund by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company's stock valued at $20,548,000 after purchasing an additional 27,983 shares during the period. Almitas Capital LLC purchased a new stake in shares of Mexico Fund in the second quarter valued at approximately $3,736,000. North Ground Capital bought a new position in Mexico Fund in the second quarter worth approximately $2,981,931. Finally, Altium Capital Management LLC increased its holdings in Mexico Fund by 165.5% during the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock worth $2,683,000 after purchasing an additional 79,898 shares during the period.

About Mexico Fund

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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