Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 1,828 Shares

Key Points

• Saba Capital Management, Mexico Fund’s major shareholder, bought 1,828 more shares on July 7 at an average price of $21.73, bringing its total stake to 2,261,962 shares.
• The firm has been actively accumulating MXF shares throughout June and early July, with multiple reported purchases ranging from hundreds to nearly 30,000 shares in separate transactions.
• Mexico Fund shares were trading around $21.39, and the fund announced a quarterly dividend of $0.35 per share payable July 30, implying a 6.5% annualized yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 1,828 shares of the company's stock in a transaction on Tuesday, July 7th. The stock was bought at an average cost of $21.73 per share, with a total value of $39,722.44. Following the completion of the acquisition, the insider directly owned 2,261,962 shares in the company, valued at approximately $49,152,434.26. This represents a 0.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 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 Wednesday, July 8th, Saba Capital Management, L.P. bought 522 shares of Mexico Fund stock. The shares were bought at an average cost of $21.26 per share, for a total transaction of $11,097.72.
• On Wednesday, June 24th, Saba Capital Management, L.P. purchased 5,100 shares of Mexico Fund stock. The stock was 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 price of $21.52 per share, for a total transaction of $323,897.52.
• On Thursday, June 18th, Saba Capital Management, L.P. purchased 1,261 shares of Mexico Fund stock. The stock was bought at an average cost 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 purchased at an average cost of $22.23 per share, with a total value of $89,742.51.
• On Friday, June 12th, Saba Capital Management, L.P. acquired 29,500 shares of Mexico Fund stock. The shares were purchased 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. acquired 5,117 shares of Mexico Fund stock. The shares were purchased at an average price 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 cost of $21.39 per share, for a total transaction 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. bought 19,906 shares of Mexico Fund stock. The stock was purchased at an average price of $21.64 per share, with a total value of $430,765.84.

Mexico Fund Stock Performance

Shares of Mexico Fund stock traded down $0.08 on Thursday, reaching $21.39. 31,675 shares of the stock were exchanged, compared to its average volume of 60,377. The firm's 50 day moving average is $21.77 and its 200-day moving average is $21.49. Mexico Fund, Inc. has a one year low of $16.57 and a one year high of $23.00.

Mexico Fund Dividend Announcement

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

Institutional Investors Weigh In On Mexico Fund

Large investors have recently modified their holdings of the business. Saba Capital Management L.P. raised its holdings in shares of Mexico Fund by 4.3% during 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 buying an additional 73,032 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Mexico Fund by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company's stock valued at $20,548,000 after buying an additional 27,983 shares in the last quarter. Calamos Advisors LLC boosted its stake in Mexico Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company's stock valued at $446,000 after buying an additional 2,535 shares in the last quarter. Altium Capital Management LLC grew its position 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 last quarter. Finally, Uhlmann Price Securities LLC grew its position in Mexico Fund by 1.9% in the first quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company's stock valued at $2,243,000 after acquiring an additional 2,013 shares during 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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