Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 1,005 Shares

Key Points

• Saba Capital Management, L.P. purchased 1,005 shares of Mexico Fund on March 10 at an average price of $20.94, increasing its stake to 1,736,106 shares valued at about $36.35 million, and continuing a series of purchases over Dec–Mar that signal ongoing accumulation.
• Mexico Fund boosted its quarterly dividend to $0.35 (up from $0.25), equivalent to a $1.40 annualized payout and roughly a 6.7% yield; the dividend was paid Jan 29 with an ex-dividend date of Jan 21.
• MXF traded at $20.83 (down $0.21) with a 1‑year range of $13.10–$23.00, a 50-day SMA of $21.62 and 200-day SMA of $20.06, and recent volume below its average (59,915 vs. 78,919).

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 1,005 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $20.94 per share, with a total value of $21,044.70. Following the acquisition, the insider owned 1,736,106 shares of the company's stock, valued at approximately $36,354,059.64. The trade was a 0.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 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, March 5th, Saba Capital Management, L.P. acquired 4,480 shares of Mexico Fund stock. The shares were bought 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. bought 32,126 shares of Mexico Fund stock. The stock was 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. bought 3,115 shares of Mexico Fund stock. The stock was purchased at an average price of $21.97 per share, with a total value 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, with a total value of $21,500.00.
• On Wednesday, January 21st, Saba Capital Management, L.P. purchased 550 shares of Mexico Fund stock. The shares were purchased at an average price of $21.29 per share, for a total transaction of $11,709.50.
• On Monday, January 12th, Saba Capital Management, L.P. acquired 2,520 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.45 per share, for a total transaction of $51,534.00.
• On Friday, January 9th, Saba Capital Management, L.P. acquired 10 shares of Mexico Fund stock. The stock was purchased at an average price of $20.24 per share, with a total value of $202.40.
• On Tuesday, December 16th, Saba Capital Management, L.P. bought 16,228 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.95 per share, with a total value of $323,748.60.
• On Monday, December 15th, Saba Capital Management, L.P. bought 28,475 shares of Mexico Fund stock. The stock was purchased at an average price of $20.22 per share, for a total transaction of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. purchased 9,400 shares of Mexico Fund stock. The stock was acquired at an average price of $19.91 per share, for a total transaction of $187,154.00.

Mexico Fund Stock Performance

MXF traded down $0.21 during trading on Wednesday, reaching $20.83. 59,915 shares of the company's stock were exchanged, compared to its average volume of 78,919. Mexico Fund, Inc. has a 1 year low of $13.10 and a 1 year high of $23.00. The company's fifty day simple moving average is $21.62 and its 200-day simple moving average is $20.06.

Mexico Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, January 21st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.7%. This is a boost from Mexico Fund's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, January 21st.

Institutional Investors Weigh In On Mexico Fund

Hedge funds have recently added to or reduced their stakes in the business. Uhlmann Price Securities LLC lifted its holdings in shares of Mexico Fund by 1.0% in the 4th quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company's stock valued at $2,118,000 after buying an additional 1,074 shares during the period. Farther Finance Advisors LLC lifted its holdings in Mexico Fund by 775.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock valued at $27,000 after acquiring an additional 1,194 shares during the period. Blue Bell Private Wealth Management LLC boosted its position in Mexico Fund by 92.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company's stock worth $49,000 after purchasing an additional 1,200 shares in the last quarter. Calamos Advisors LLC grew its stake in shares of Mexico Fund by 21.7% during the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock worth $280,000 after purchasing an additional 2,535 shares during the period. Finally, Quantedge Capital Pte Ltd grew its stake in shares of Mexico Fund by 3.7% during the 2nd quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company's stock worth $2,286,000 after purchasing an additional 4,650 shares during the period.

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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