Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 15,051 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 15,051 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average price of $21.52 per share, with a total value of $323,897.52. Following the completion of the acquisition, the insider directly owned 2,255,034 shares in the company, valued at $48,528,331.68. This trade represents a 0.67% increase in their ownership of the stock. 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 transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, June 24th, Saba Capital Management, L.P. purchased 5,100 shares of Mexico Fund stock. The stock was bought at an average cost of $21.31 per share, for a total transaction of $108,681.00.
• On Thursday, June 18th, Saba Capital Management, L.P. acquired 1,261 shares of Mexico Fund stock. The stock was bought at an average price of $22.19 per share, with a total value of $27,981.59.
• On Wednesday, June 17th, Saba Capital Management, L.P. bought 4,037 shares of Mexico Fund stock. The stock was purchased at an average price of $22.23 per share, for a total transaction of $89,742.51.
• On Friday, June 12th, Saba Capital Management, L.P. bought 29,500 shares of Mexico Fund stock. The stock was purchased at an average price of $22.30 per share, for a total transaction of $657,850.00.
• On Thursday, June 11th, Saba Capital Management, L.P. bought 5,117 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.60 per share, for a total transaction of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. purchased 11,081 shares of Mexico Fund stock. The shares were purchased at an average price of $21.39 per share, with a total value of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. purchased 3,600 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.14 per share, for a total transaction of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. acquired 19,906 shares of Mexico Fund stock. The stock was purchased at an average price of $21.64 per share, for a total transaction of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. acquired 32,102 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.61 per share, with a total value of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. bought 31,949 shares of Mexico Fund stock. The shares were purchased at an average price of $22.16 per share, with a total value of $707,989.84.

Mexico Fund Stock Performance

Shares of Mexico Fund stock traded up $0.16 during trading on Thursday, reaching $21.47. 3,269 shares of the stock were exchanged, compared to its average volume of 62,133. Mexico Fund, Inc. has a 1 year low of $16.57 and a 1 year high of $23.00. The stock’s fifty day moving average is $21.79 and its 200 day moving average is $21.36.

Mexico Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Wednesday, July 22nd.

Hedge Funds Weigh In On Mexico Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in MXF. Altium Capital Management LLC bought a new stake in Mexico Fund in the fourth quarter valued at $972,000. Sit Investment Associates Inc. lifted its position in shares of Mexico Fund by 144.8% in the 4th quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company’s stock worth $1,000,000 after purchasing an additional 29,377 shares during the period. Calamos Advisors LLC lifted its position in shares of Mexico Fund by 13.5% in 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. Saba Capital Management L.P. boosted its stake in shares of Mexico Fund by 4.3% during 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 in the last quarter. Finally, North Ground Capital boosted its stake in shares of Mexico Fund by 309.2% during the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock valued at $2,544,000 after purchasing an additional 95,443 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.