Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Purchases 1,049 Shares

Key Points

• Saba Capital Management purchased 1,049 MXF shares at an average $20.69 each, raising its direct ownership to 2,342,235 shares valued at approximately $48.5 million. The purchase was part of a series of recent acquisitions disclosed to the SEC.
• Mexico Fund shares traded at $20.72, up 0.1%, against a 52-week range of $18.30 to $23.00. The fund declared a quarterly dividend of $0.35, or $1.40 annualized, representing a 6.8% yield.
• Several institutional investors recently established or increased positions in Mexico Fund, including Almitas Capital, North Ground Capital, Public Employees Retirement System of Ohio, Altium Capital Management, and Saba Capital.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 1,049 shares of the firm's stock in a transaction that occurred on Thursday, September 24th. The stock was bought at an average cost of $20.69 per share, for a total transaction of $21,703.81. Following the completion of the purchase, the insider directly owned 2,342,235 shares in the company, valued at $48,460,842.15. This represents a 0.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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. acquired 834 shares of Mexico Fund stock. The stock was purchased at an average price of $20.74 per share, for a total transaction of $17,297.16.
• On Wednesday, September 23rd, Saba Capital Management, L.P. purchased 28,464 shares of Mexico Fund stock. The stock was acquired 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. purchased 110 shares of Mexico Fund stock. The stock was bought 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. acquired 2,034 shares of Mexico Fund stock. The shares were bought at an average price of $21.03 per share, for a total transaction of $42,775.02.
• On Wednesday, September 16th, Saba Capital Management, L.P. bought 6,403 shares of Mexico Fund stock. The stock was bought 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 bought at an average price 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 purchased 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 purchased 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. bought 3,077 shares of Mexico Fund stock. The stock was purchased at an average price of $21.34 per share, for a total transaction of $65,663.18.
• On Tuesday, July 28th, Saba Capital Management, L.P. purchased 2,608 shares of Mexico Fund stock. The shares were purchased at an average price of $21.56 per share, with a total value of $56,228.48.

Mexico Fund Stock Up 0.1%

Shares of MXF stock traded up $0.01 during trading on Monday, hitting $20.72. 14,854 shares of the stock traded hands, compared to its average volume of 52,147. Mexico Fund, Inc. has a 52-week low of $18.30 and a 52-week high of $23.00. The firm's fifty day moving average price is $21.51 and its 200-day moving average price is $21.51.

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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, October 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Almitas Capital LLC purchased a new position in Mexico Fund in the second quarter valued at $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund in the 2nd quarter valued at about $2,981,931. Public Employees Retirement System of Ohio purchased a new stake in Mexico Fund during the second quarter worth approximately $2,266,000. Altium Capital Management LLC boosted its holdings 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 purchasing an additional 79,898 shares in the last quarter. Finally, Saba Capital Management L.P. increased its stake in Mexico Fund by 4.3% in the first 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 purchasing an additional 73,032 shares during the last quarter.

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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