Mexico Fund (NYSE:MXF) Major Shareholder Buys $693,724.22 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 32,102 shares of Mexico Fund stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $21.61 per share, for a total transaction of $693,724.22. Following the completion of the purchase, the insider directly owned 2,165,481 shares of the company’s stock, valued at approximately $46,796,044.41. This represents a 1.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more 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 Friday, June 5th, Saba Capital Management, L.P. acquired 19,906 shares of Mexico Fund stock. The shares were purchased at an average price of $21.64 per share, for a total transaction of $430,765.84.
• On Wednesday, June 3rd, Saba Capital Management, L.P. acquired 31,949 shares of Mexico Fund stock. The shares were purchased at an average price of $22.16 per share, for a total transaction of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. bought 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 stock was bought at an average price of $21.90 per share, for a total transaction of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. purchased 18,466 shares of Mexico Fund stock. The stock was bought at an average price of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. purchased 6,700 shares of Mexico Fund stock. The shares were bought 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 shares were bought at an average price of $22.27 per share, with a total value of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. bought 14,402 shares of Mexico Fund stock. The shares were bought 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. bought 7,166 shares of Mexico Fund stock. The shares were bought 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. bought 4,610 shares of Mexico Fund stock. The shares were acquired at an average price of $21.68 per share, for a total transaction of $99,944.80.

Mexico Fund Stock Down 0.1%

NYSE:MXF traded down $0.03 during mid-day trading on Monday, hitting $21.37. 5,997 shares of the company’s stock were exchanged, compared to its average volume of 64,886. The company has a 50 day simple moving average of $21.67 and a 200-day simple moving average of $21.13. Mexico Fund, Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $23.00.

Mexico Fund Dividend Announcement

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

Institutional Trading of Mexico Fund

Several hedge funds have recently modified their holdings of MXF. Uhlmann Price Securities LLC increased its stake in shares of Mexico Fund by 2.5% in the 3rd quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company’s stock valued at $2,050,000 after acquiring an additional 2,583 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of Mexico Fund by 127.8% in the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after acquiring an additional 14,241 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of Mexico Fund by 21.7% in the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after acquiring an additional 17,747 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Mexico Fund in the 3rd quarter valued at $265,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Mexico Fund by 775.3% in 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 in 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.