Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 7,623 Shares

Key Points

• Saba Capital Management bought 7,623 Mexico Fund shares at an average $21.80 each, increasing its position 0.33% to 2.29 million shares valued at approximately $49.8 million.
• The purchase continues Saba’s recent buying activity, including acquisitions of more than 15,000 shares on July 20 and July 23, along with several additional purchases since June.
• Mexico Fund shares rose 0.3% to $21.50, while the fund declared a quarterly dividend of $0.35, equivalent to $1.40 annually and a 6.5% yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 7,623 shares of the firm's stock in a transaction on Wednesday, July 22nd. The shares were purchased at an average cost of $21.80 per share, with a total value of $166,181.40. Following the completion of the transaction, the insider owned 2,285,129 shares of the company's stock, valued at approximately $49,815,812.20. The trade was a 0.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares 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, July 23rd, Saba Capital Management, L.P. acquired 414 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.11 per share, for a total transaction of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.52 per share, for a total transaction of $4,304.00.
• On Monday, July 20th, Saba Capital Management, L.P. acquired 7,631 shares of Mexico Fund stock. The shares were purchased at an average price of $21.49 per share, with a total value of $163,990.19.
• On Wednesday, July 8th, Saba Capital Management, L.P. bought 522 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.26 per share, with a total value of $11,097.72.
• On Tuesday, July 7th, Saba Capital Management, L.P. bought 1,828 shares of Mexico Fund stock. The stock was purchased at an average price of $21.73 per share, with a total value of $39,722.44.
• On Wednesday, June 24th, Saba Capital Management, L.P. purchased 5,100 shares of Mexico Fund stock. The stock was purchased at an average cost 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 purchased at an average cost 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 shares were acquired at an average cost of $22.19 per share, for a total transaction of $27,981.59.
• On Wednesday, June 17th, Saba Capital Management, L.P. acquired 4,037 shares of Mexico Fund stock. The shares were acquired at an average price 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 acquired at an average price of $22.30 per share, with a total value of $657,850.00.

Mexico Fund Stock Up 0.3%

Shares of Mexico Fund stock traded up $0.07 during trading on Tuesday, reaching $21.50. The company's stock had a trading volume of 25,849 shares, compared to its average volume of 58,295. Mexico Fund, Inc. has a 1-year low of $17.41 and a 1-year high of $23.00. The company has a 50-day simple moving average of $21.74 and a two-hundred day simple moving average of $21.60.

Mexico Fund Announces Dividend

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

Hedge Funds Weigh In On Mexico Fund

Several hedge funds have recently modified their holdings of MXF. Saba Capital Management L.P. raised its position 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 valued at $36,927,000 after purchasing an additional 73,032 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in 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 last quarter. Calamos Advisors LLC increased its stake in Mexico Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company's stock valued at $446,000 after purchasing an additional 2,535 shares in the last quarter. Altium Capital Management LLC increased its stake 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 valued at $2,683,000 after purchasing an additional 79,898 shares in the last quarter. Finally, Uhlmann Price Securities LLC raised its holdings in shares of 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 worth $2,243,000 after buying 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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