Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 22,914 Shares

Key Points

• Saba Capital Management, a major shareholder in Mexico Fund, bought 22,914 additional shares on May 19 at an average price of $21.58, increasing its stake by 1.16% to nearly 2.0 million shares.
• The filing shows Saba has been actively accumulating the fund’s shares over several recent trading days, including multiple purchases in mid-May and a larger 100,000-share buy in late April.
• Mexico Fund’s stock recently traded at $21.60, near its 50-day average, and the fund paid a quarterly dividend of $0.35 per share, equal to a 6.5% annualized yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 22,914 shares of Mexico Fund stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $21.58 per share, with a total value of $494,484.12. Following the completion of the acquisition, the insider owned 1,995,137 shares of the company's stock, valued at $43,055,056.46. The trade was a 1.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 Wednesday, May 20th, Saba Capital Management, L.P. bought 4,610 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.68 per share, for a total transaction of $99,944.80.
• On Monday, May 18th, Saba Capital Management, L.P. acquired 18,586 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.59 per share, with a total value of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. purchased 8,334 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. bought 33,108 shares of Mexico Fund stock. The shares were acquired at an average price of $22.00 per share, for a total transaction of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. purchased 15,148 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.13 per share, for a total transaction of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. purchased 9,000 shares of Mexico Fund stock. The stock was acquired at an average price of $22.01 per share, with a total value of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. acquired 3,000 shares of Mexico Fund stock. The shares were bought at an average cost of $21.82 per share, with a total value of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. acquired 217 shares of Mexico Fund stock. The shares were bought at an average price of $21.33 per share, for a total transaction of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. bought 100,000 shares of Mexico Fund stock. The stock was bought at an average cost of $21.83 per share, for a total transaction of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. purchased 3,505 shares of Mexico Fund stock. The shares were bought at an average cost of $21.86 per share, with a total value of $76,619.30.

Mexico Fund Stock Performance

NYSE:MXF traded down $0.18 during trading hours on Thursday, reaching $21.60. 12,393 shares of the company were exchanged, compared to its average volume of 66,751. Mexico Fund, Inc. has a 52-week low of $16.22 and a 52-week high of $23.00. The stock has a 50 day simple moving average of $21.29 and a 200 day simple moving average of $20.90.

Mexico Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend was Wednesday, April 22nd.

Institutional Investors Weigh In On Mexico Fund

A number of institutional investors have recently added to or reduced their stakes in the company. Saba Capital Management L.P. raised its holdings in shares of Mexico Fund by 4.3% in 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 purchasing an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Mexico Fund by 2.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company's stock worth $20,548,000 after purchasing an additional 27,983 shares during the period. Altium Capital Management LLC increased its position in Mexico Fund by 165.5% during the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock worth $2,683,000 after purchasing an additional 79,898 shares in the last quarter. North Ground Capital raised its holdings in Mexico Fund by 309.2% in the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company's stock valued at $2,544,000 after buying an additional 95,443 shares during the period. Finally, Uhlmann Price Securities LLC raised its holdings 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 buying an additional 2,013 shares during the period.

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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