Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 2,608 Shares of Stock

Key Points

• Saba Capital Management purchased 2,608 MXF shares at an average price of $21.56, investing $56,228.48. The major shareholder now owns 2,288,151 shares, valued at approximately $49.3 million.
• Saba has made multiple additional purchases in recent weeks, including more than 7,600 shares each on July 20 and July 22, indicating continued accumulation of Mexico Fund stock.
• MXF recently traded at $21.28 and declared a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 payout and a 6.6% dividend yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 2,608 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average cost of $21.56 per share, with a total value of $56,228.48. Following the completion of the acquisition, the insider directly owned 2,288,151 shares of the company's stock, valued at $49,332,535.56. This represents a 0.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 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 Wednesday, July 22nd, Saba Capital Management, L.P. acquired 7,623 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.80 per share, for a total transaction of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. bought 414 shares of Mexico Fund stock. The shares were acquired at an average price of $21.11 per share, for a total transaction of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.52 per share, with a total value of $4,304.00.
• On Monday, July 20th, Saba Capital Management, L.P. purchased 7,631 shares of Mexico Fund stock. The stock was acquired at an average price of $21.49 per share, for a total transaction of $163,990.19.
• On Wednesday, July 8th, Saba Capital Management, L.P. bought 522 shares of Mexico Fund stock. The stock was acquired 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 shares were bought at an average price of $21.73 per share, for a total transaction of $39,722.44.
• 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, with a total value of $108,681.00.
• On Tuesday, June 23rd, Saba Capital Management, L.P. acquired 15,051 shares of Mexico Fund stock. The shares were bought 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. bought 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. purchased 4,037 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.23 per share, for a total transaction of $89,742.51.

Mexico Fund Stock Performance

Shares of MXF traded down $0.18 on Wednesday, reaching $21.28. The stock had a trading volume of 53,265 shares, compared to its average volume of 58,295. Mexico Fund, Inc. has a twelve month low of $17.41 and a twelve month high of $23.00. The firm has a 50-day moving average of $21.74 and a 200 day moving average of $21.61.

Mexico Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Wednesday, July 22nd.

Institutional Trading of Mexico Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Saba Capital Management L.P. grew its position in shares of 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 valued at $36,927,000 after purchasing an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Mexico Fund by 2.9% in the 1st 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 during the period. Altium Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 79,898 shares during the period. North Ground Capital boosted its position 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 worth $2,544,000 after acquiring an additional 95,443 shares during the last quarter. Finally, Uhlmann Price Securities LLC grew 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 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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