Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 3,505 Shares of Stock

Key Points

• Saba Capital Management bought 3,505 shares of Mexico Fund on April 21 at an average of $21.86, and now directly owns 1,784,830 shares valued at about $39.02 million, a 0.20% increase in its position.
• Saba also made a much larger purchase the next day, acquiring 100,000 shares on April 22 for roughly $2.183 million, part of a series of buys through March and April signaling active accumulation.
• The fund declared a quarterly dividend of $0.35 per share (annualized $1.40) with an ex-dividend/record date of April 22 and a stated yield of 6.5%, payable April 30.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 3,505 shares of the stock in a transaction on Tuesday, April 21st. The shares were bought at an average price of $21.86 per share, for a total transaction of $76,619.30. Following the completion of the transaction, the insider directly owned 1,784,830 shares of the company's stock, valued at $39,016,383.80. This trade represents a 0.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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 Wednesday, April 22nd, Saba Capital Management, L.P. purchased 100,000 shares of Mexico Fund stock. The stock was purchased at an average price of $21.83 per share, for a total transaction of $2,183,000.00.
• On Friday, April 17th, Saba Capital Management, L.P. acquired 179 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.00 per share, with a total value of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. bought 2,200 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.17 per share, for a total transaction of $48,774.00.
• On Monday, April 6th, Saba Capital Management, L.P. purchased 3,814 shares of Mexico Fund stock. The shares were bought at an average cost of $21.23 per share, with a total value of $80,971.22.
• On Thursday, April 2nd, Saba Capital Management, L.P. bought 10,800 shares of Mexico Fund stock. The shares were purchased at an average price of $21.28 per share, for a total transaction of $229,824.00.
• On Friday, March 20th, Saba Capital Management, L.P. acquired 2,871 shares of Mexico Fund stock. The shares were bought at an average price of $19.83 per share, for a total transaction of $56,931.93.
• On Wednesday, March 18th, Saba Capital Management, L.P. bought 5,000 shares of Mexico Fund stock. The stock was bought at an average price of $20.38 per share, with a total value of $101,900.00.
• On Friday, March 13th, Saba Capital Management, L.P. purchased 2,600 shares of Mexico Fund stock. The stock was bought at an average price of $20.21 per share, for a total transaction of $52,546.00.
• On Thursday, March 12th, Saba Capital Management, L.P. acquired 456 shares of Mexico Fund stock. The shares were purchased at an average price of $20.35 per share, with a total value of $9,279.60.
• On Tuesday, March 10th, Saba Capital Management, L.P. bought 1,005 shares of Mexico Fund stock. The stock was purchased at an average price of $20.94 per share, for a total transaction of $21,044.70.

Mexico Fund Stock Performance

NYSE:MXF traded down $0.06 on Thursday, hitting $21.60. 41,679 shares of the stock were exchanged, compared to its average volume of 66,706. The stock has a fifty day moving average of $21.51 and a 200-day moving average of $20.55. Mexico Fund, Inc. has a fifty-two week low of $15.21 and a fifty-two week high of $23.00.

Mexico Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd will be paid 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, April 22nd.

Hedge Funds Weigh In On Mexico Fund

A number of institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Mexico Fund by 775.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock valued at $27,000 after acquiring an additional 1,194 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in Mexico Fund by 92.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company's stock valued at $49,000 after buying an additional 1,200 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of Mexico Fund in the 3rd quarter worth approximately $265,000. Calamos Advisors LLC raised its position in shares of Mexico Fund by 21.7% during the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock valued at $280,000 after acquiring an additional 2,535 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company's stock worth $500,000 after purchasing an additional 14,241 shares during the period.

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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