Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 11,081 Shares

Key Points

• Saba Capital Management, the major shareholder in Mexico Fund, bought 11,081 shares on June 10 at an average price of $21.39, boosting its stake to 2.2 million shares. The purchase increased its ownership by 0.51%.
• The filing shows Saba has been actively accumulating Mexico Fund shares throughout early June and late May, with multiple additional purchases ranging from 708 to 44,608 shares each.
• Mexico Fund’s stock was trading around $21.20, near its recent moving averages, and the fund recently paid a quarterly dividend of $0.35, equal to an annualized yield of about 6.6%.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 11,081 shares of the stock in a transaction dated Wednesday, June 10th. The stock was bought at an average cost of $21.39 per share, with a total value of $237,022.59. Following the transaction, the insider owned 2,200,068 shares in the company, valued at $47,059,454.52. The trade was a 0.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, June 9th, Saba Capital Management, L.P. purchased 3,600 shares of Mexico Fund stock. The stock was bought at an average cost of $21.14 per share, with a total value of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. acquired 19,906 shares of Mexico Fund stock. The shares were bought at an average cost of $21.64 per share, with a total value of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. acquired 32,102 shares of Mexico Fund stock. The shares were bought at an average cost of $21.61 per share, with a total value of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.16 per share, with a total value of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. purchased 9,633 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.24 per share, with a total value of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. purchased 708 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.90 per share, with a total value of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. purchased 18,466 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.17 per share, with a total value of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. purchased 6,700 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.16 per share, with a total value of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. purchased 44,608 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.27 per share, with a total value of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. purchased 14,402 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.99 per share, with a total value of $316,699.98.

Mexico Fund Price Performance

Shares of NYSE MXF traded up $0.16 during midday trading on Thursday, hitting $21.20. 17,767 shares of the company's stock traded hands, compared to its average volume of 64,275. Mexico Fund, Inc. has a 1 year low of $16.43 and a 1 year high of $23.00. The firm has a fifty day moving average of $21.71 and a 200 day moving average of $21.18.

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 issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend was Wednesday, April 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Saba Capital Management L.P. lifted its position in Mexico Fund by 4.3% in the first 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 during the last quarter. Allspring Global Investments Holdings LLC increased 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 worth $20,548,000 after purchasing an additional 27,983 shares during the period. Altium Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 79,898 shares during the period. North Ground Capital boosted its holdings in shares of 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 purchasing an additional 95,443 shares during the period. Finally, Uhlmann Price Securities LLC boosted 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 valued at $2,243,000 after purchasing 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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