Saba Capital Management, L.P. Acquires 19,906 Shares of Mexico Fund (NYSE:MXF) Stock

Key Points

• Saba Capital Management bought 19,906 more shares of Mexico Fund (NYSE:MXF) on June 5 at an average price of $21.64, bringing its total stake to 2,185,387 shares worth about $47.3 million.
• The purchase is part of a broader buying streak: Saba Capital has made several additional MXF acquisitions in recent days, including large buys on June 4, June 3, and May 27.
• Mexico Fund’s shares recently traded around $21.37, near their 50-day average, and the fund continues to pay a quarterly dividend of $0.35, implying an annualized yield of 6.6%.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 19,906 shares of the company's stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $21.64 per share, for a total transaction of $430,765.84. Following the completion of the acquisition, the insider owned 2,185,387 shares of the company's stock, valued at $47,291,774.68. This trade represents a 0.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major 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 Thursday, June 4th, Saba Capital Management, L.P. acquired 32,102 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. acquired 31,949 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.16 per share, for a total transaction of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. acquired 9,633 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.24 per share, for a total transaction of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. acquired 708 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.90 per share, for a total transaction of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. acquired 18,466 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. acquired 6,700 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.16 per share, for a total transaction of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. acquired 44,608 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.27 per share, for a total transaction of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. acquired 14,402 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.99 per share, for a total transaction of $316,699.98.
• On Thursday, May 21st, Saba Capital Management, L.P. acquired 7,166 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.67 per share, for a total transaction of $155,287.22.
• On Wednesday, May 20th, Saba Capital Management, L.P. acquired 4,610 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.68 per share, for a total transaction of $99,944.80.

Mexico Fund Stock Performance

Shares of NYSE:MXF traded down $0.03 during trading on Monday, reaching $21.37. The stock had a trading volume of 5,997 shares, compared to its average volume of 64,886. The business has a fifty day moving average price of $21.67 and a 200-day moving average price of $21.13. Mexico Fund, Inc. has a 1-year low of $16.43 and a 1-year high of $23.00.

Mexico Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%.

Institutional Trading of Mexico Fund

A number of institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. boosted its stake 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 worth $36,927,000 after acquiring an additional 73,032 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 acquiring an additional 27,983 shares during the last quarter. Altium Capital Management LLC boosted its stake 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 worth $2,683,000 after acquiring an additional 79,898 shares during the last quarter. North Ground Capital boosted its stake 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 boosted its stake 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 acquiring 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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