Mexico Fund (NYSE:MXF) Major Shareholder Acquires $80,971.22 in Stock

Key Points

• Saba Capital Management bought 3,814 shares of Mexico Fund (NYSE:MXF) on April 6 at an average price of $21.23, a $80,971.22 purchase that raised its direct holdings to 1,778,946 shares (~$37.77M), a 0.21% increase in ownership.
• Saba has been steadily accumulating MXF over recent months with multiple buys, including a notable 32,126-share purchase on Feb 13 for $728,938.94, indicating ongoing insider accumulation.
• Mexico Fund declared a quarterly dividend of $0.35 per share (annualized $1.40), payable April 30 with record/ex-dividend dates on April 22, representing an approximate yield of 6.6%.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 3,814 shares of the company's stock in a transaction dated Monday, April 6th. The stock was acquired at an average cost of $21.23 per share, for a total transaction of $80,971.22. Following the completion of the acquisition, the insider directly owned 1,778,946 shares in the company, valued at approximately $37,767,023.58. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, April 2nd, Saba Capital Management, L.P. acquired 10,800 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.28 per share, for a total transaction of $229,824.00.
• On Friday, March 20th, Saba Capital Management, L.P. purchased 2,871 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.83 per share, for a total transaction of $56,931.93.
• On Wednesday, March 18th, Saba Capital Management, L.P. purchased 5,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.38 per share, for a total transaction of $101,900.00.
• On Friday, March 13th, Saba Capital Management, L.P. purchased 2,600 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.21 per share, for a total transaction of $52,546.00.
• On Thursday, March 12th, Saba Capital Management, L.P. purchased 456 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.35 per share, for a total transaction of $9,279.60.
• On Tuesday, March 10th, Saba Capital Management, L.P. purchased 1,005 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.94 per share, for a total transaction of $21,044.70.
• On Thursday, March 5th, Saba Capital Management, L.P. purchased 4,480 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.34 per share, for a total transaction of $95,603.20.
• On Friday, February 13th, Saba Capital Management, L.P. purchased 32,126 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.69 per share, for a total transaction of $728,938.94.
• On Thursday, January 29th, Saba Capital Management, L.P. purchased 3,115 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.97 per share, for a total transaction of $68,436.55.
• On Monday, January 26th, Saba Capital Management, L.P. purchased 1,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $21,500.00.

Mexico Fund Stock Performance

NYSE MXF traded up $0.04 during mid-day trading on Tuesday, reaching $21.36. 34,402 shares of the stock were exchanged, compared to its average volume of 69,092. The business's 50 day moving average is $21.54 and its 200-day moving average is $20.34. Mexico Fund, Inc. has a 1 year low of $13.10 and a 1 year high of $23.00.

Mexico Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%.

Institutional Trading of Mexico Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Quantedge Capital Pte Ltd lifted its holdings in Mexico Fund by 3.7% during the second quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company's stock valued at $2,286,000 after purchasing an additional 4,650 shares in the last quarter. Calamos Advisors LLC lifted its holdings in Mexico Fund by 21.7% during the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock valued at $280,000 after purchasing an additional 2,535 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in Mexico Fund by 92.3% during the third quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company's stock valued at $49,000 after purchasing an additional 1,200 shares in the last quarter. North Ground Capital purchased a new position in Mexico Fund during the third quarter valued at $608,000. Finally, Uhlmann Price Securities LLC lifted its holdings in Mexico Fund by 2.5% during the third quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company's stock valued at $2,050,000 after purchasing an additional 2,583 shares in the last quarter.

About Mexico Fund

The Mexico Fund, Inc NYSE: MXF is a closed-end management investment company that seeks long-term capital appreciation through exposure to Mexican securities. The fund primarily invests in equity instruments of companies organized or principally operating in Mexico, spanning a range of sectors such as financial services, consumer goods, industrials and energy. It may also allocate portions of its portfolio to fixed-income securities, including government and corporate bonds, when attractive opportunities arise.

Launched in 1991 and incorporated under Maryland law, The Mexico Fund offers U.S.

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