Saba Capital Management, L.P. Purchases 3,077 Shares of Mexico Fund (NYSE:MXF) Stock

Key Points

• Saba Capital Management bought 3,077 Mexico Fund shares at an average $21.34 each, increasing its stake 0.13% to 2.29 million shares valued at approximately $48.9 million.
• The firm has made several additional purchases in recent weeks, signaling continued accumulation of Mexico Fund stock by the major shareholder.
• Mexico Fund shares rose 0.5% to $21.80, while the company paid a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 payout and a 6.4% yield.

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 3,077 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average price of $21.34 per share, with a total value of $65,663.18. Following the completion of the transaction, the insider directly owned 2,291,228 shares of the company's stock, valued at $48,894,805.52. This represents a 0.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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 Tuesday, July 28th, Saba Capital Management, L.P. acquired 2,608 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.56 per share, with a total value of $56,228.48.
• On Wednesday, July 22nd, Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock. The stock was acquired at an average price of $21.80 per share, with a total value of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. acquired 414 shares of Mexico Fund stock. The stock was acquired at an average price of $21.11 per share, with a total value of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was bought 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 shares were bought 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 shares were purchased at an average cost of $21.26 per share, for a total transaction of $11,097.72.
• On Tuesday, July 7th, Saba Capital Management, L.P. purchased 1,828 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.73 per share, for a total transaction of $39,722.44.
• On Wednesday, June 24th, Saba Capital Management, L.P. acquired 5,100 shares of Mexico Fund stock. The stock was acquired 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 stock was bought at an average price 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 stock was bought at an average cost of $22.19 per share, for a total transaction of $27,981.59.

Mexico Fund Stock Up 0.5%

NYSE:MXF traded up $0.10 during trading hours on Friday, reaching $21.80. 30,293 shares of the stock were exchanged, compared to its average volume of 58,094. The business has a 50-day moving average of $21.73 and a two-hundred day moving average of $21.62. Mexico Fund, Inc. has a twelve month low of $17.41 and a twelve month high of $23.00.

Mexico Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd were issued a $0.35 dividend. The ex-dividend date was Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.4%.

Institutional Trading of Mexico Fund

Large investors have recently made changes to their positions in the company. Saba Capital Management L.P. increased 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 boosted its holdings 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 valued at $20,548,000 after acquiring an additional 27,983 shares during the period. Calamos Advisors LLC boosted 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 worth $446,000 after purchasing an additional 2,535 shares during the period. Altium Capital Management LLC grew its position 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 worth $2,683,000 after purchasing an additional 79,898 shares during the last quarter. Finally, Uhlmann Price Securities LLC grew its holdings in shares of Mexico Fund by 1.9% during 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.

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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