Mexico Fund (NYSE:MXF) Major Shareholder Purchases 522 Shares of Stock

Key Points

• Saba Capital Management, Mexico Fund’s major shareholder, bought 522 additional shares at an average price of $21.26, lifting its stake to 2,262,484 shares. The SEC filing shows the purchase was a modest 0.02% increase in ownership.
• The shareholder has been actively accumulating MXF recently, with multiple purchases in June and early July, including several larger buys such as 29,500 shares on June 12 and 19,906 shares on June 5.
• Mexico Fund shares traded at $21.39 on Thursday, near the middle of their 12-month range, and the fund also announced a quarterly dividend of $0.35 per share, implying a 6.5% annualized yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 522 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The stock was bought at an average price of $21.26 per share, with a total value of $11,097.72. Following the transaction, the insider directly owned 2,262,484 shares in the company, valued at $48,100,409.84. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% 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 Tuesday, July 7th, Saba Capital Management, L.P. purchased 1,828 shares of Mexico Fund stock. The shares were bought at an average price of $21.73 per share, for a total transaction of $39,722.44.
• On Wednesday, June 24th, Saba Capital Management, L.P. purchased 5,100 shares of Mexico Fund stock. The shares were bought at an average price of $21.31 per share, for a total transaction of $108,681.00.
• On Tuesday, June 23rd, Saba Capital Management, L.P. purchased 15,051 shares of Mexico Fund stock. The stock was bought at an average cost of $21.52 per share, with a total value of $323,897.52.
• On Thursday, June 18th, Saba Capital Management, L.P. acquired 1,261 shares of Mexico Fund stock. The stock was bought at an average price of $22.19 per share, with a total value of $27,981.59.
• On Wednesday, June 17th, Saba Capital Management, L.P. acquired 4,037 shares of Mexico Fund stock. The shares were bought at an average price of $22.23 per share, for a total transaction of $89,742.51.
• On Friday, June 12th, Saba Capital Management, L.P. acquired 29,500 shares of Mexico Fund stock. The shares were bought at an average price of $22.30 per share, for a total transaction of $657,850.00.
• On Thursday, June 11th, Saba Capital Management, L.P. bought 5,117 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.60 per share, for a total transaction of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. bought 11,081 shares of Mexico Fund stock. The stock was purchased at an average price of $21.39 per share, with a total value of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. bought 3,600 shares of Mexico Fund stock. The stock was purchased at an average price of $21.14 per share, with a total value of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. purchased 19,906 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.64 per share, with a total value of $430,765.84.

Mexico Fund Stock Performance

NYSE MXF traded down $0.08 on Thursday, reaching $21.39. 31,675 shares of the stock traded hands, compared to its average volume of 60,377. Mexico Fund, Inc. has a 12 month low of $16.57 and a 12 month high of $23.00. The firm's fifty day simple moving average is $21.77 and its 200 day simple moving average is $21.49.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 annualized dividend and a yield of 6.5%.

Institutional Investors Weigh In On Mexico Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in shares of Mexico Fund by 775.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock worth $27,000 after purchasing an additional 1,194 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in Mexico Fund by 109.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company's stock worth $105,000 after buying an additional 2,735 shares in the last quarter. Alpine Global Management LLC bought a new stake in Mexico Fund during the third quarter worth approximately $265,000. Calamos Advisors LLC grew its position in Mexico Fund by 32.1% in the fourth quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company's stock worth $378,000 after buying an additional 4,563 shares during the last quarter. Finally, Scotia Capital Inc. grew its position in Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company's stock worth $500,000 after buying an additional 14,241 shares during the last quarter.

Mexico Fund Company Profile

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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