Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Acquires 1,573 Shares

Key Points

• Saba Capital Management purchased 1,573 Mexico Fund shares at an average of $19.74, increasing its ownership to 2,367,934 shares valued at approximately $46.7 million.
• The purchase was part of a series of recent acquisitions by Saba, which bought more than 60,000 additional MXF shares during late September and early October.
• MXF traded at $20.06 and recently declared a quarterly dividend of $0.35, equating to an annualized dividend of $1.40 and a 7.0% yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 1,573 shares of Mexico Fund stock in a transaction on Friday, October 2nd. The shares were bought at an average price of $19.74 per share, for a total transaction of $31,051.02. Following the completion of the purchase, the insider directly owned 2,367,934 shares in the company, valued at $46,743,017.16. The trade was a 0.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, October 1st, Saba Capital Management, L.P. bought 17,921 shares of Mexico Fund stock. The stock was bought at an average cost of $20.00 per share, with a total value of $358,420.00.
• On Wednesday, September 30th, Saba Capital Management, L.P. bought 1,238 shares of Mexico Fund stock. The stock was bought at an average price of $20.39 per share, for a total transaction of $25,242.82.
• On Monday, September 28th, Saba Capital Management, L.P. purchased 4,133 shares of Mexico Fund stock. The shares were bought at an average cost of $20.74 per share, for a total transaction of $85,718.42.
• On Friday, September 25th, Saba Capital Management, L.P. purchased 834 shares of Mexico Fund stock. The stock was purchased at an average price of $20.74 per share, with a total value of $17,297.16.
• On Thursday, September 24th, Saba Capital Management, L.P. acquired 1,049 shares of Mexico Fund stock. The stock was 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. bought 28,464 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.02 per share, for a total transaction of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. bought 110 shares of Mexico Fund stock. The stock was purchased at an average price 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 stock was 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. purchased 6,403 shares of Mexico Fund stock. The stock was purchased 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. purchased 459 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.89 per share, for a total transaction of $9,588.51.

Mexico Fund Stock Performance

MXF traded up $0.13 during trading hours on Monday, hitting $20.06. 27,242 shares of the stock were exchanged, compared to its average volume of 51,430. The stock has a 50-day simple moving average of $21.39 and a 200-day simple moving average of $21.50. Mexico Fund, Inc. has a 12 month low of $18.30 and a 12 month high of $23.00.

Mexico Fund Dividend Announcement

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

Institutional Investors Weigh In On Mexico Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Altium Capital Management LLC boosted its stake in Mexico Fund by 165.5% in the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock valued at $2,683,000 after acquiring an additional 79,898 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Mexico Fund during the 2nd quarter worth approximately $2,266,000. North Ground Capital bought a new stake in shares of Mexico Fund in the 2nd quarter worth approximately $2,981,931. Saba Capital Management L.P. lifted its holdings in shares of 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 purchasing an additional 73,032 shares during the last quarter. Finally, Almitas Capital LLC acquired a new position in Mexico Fund during the 2nd quarter valued at approximately $3,736,000.

Mexico Fund Company Profile

The Mexico Fund, Inc NYSE: MXF is a non-diversified, closed-end investment company focused on providing long-term capital appreciation through investments in securities of Mexican companies. The fund primarily invests in publicly traded equities, although it may also hold other investments that provide exposure to Mexico's economy and financial markets.

MXF offers investors a vehicle for gaining diversified exposure to Mexico across multiple industries and sectors. Its portfolio may include companies that operate in areas such as consumer goods, financial services, telecommunications, industrials, materials, and other segments of the Mexican economy.

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