Saba Capital Management, L.P. Acquires 7,631 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 7,631 shares of the stock in a transaction dated Monday, July 20th. The shares were acquired at an average price of $21.49 per share, with a total value of $163,990.19. Following the transaction, the insider owned 2,277,306 shares in the company, valued at $48,939,305.94. This trade represents a 0.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Tuesday, July 28th, Saba Capital Management, L.P. acquired 2,608 shares of Mexico Fund stock. The stock was acquired at an average price of $21.56 per share, for a total transaction of $56,228.48.
• On Wednesday, July 22nd, Saba Capital Management, L.P. acquired 7,623 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.80 per share, for a total transaction of $166,181.40.
• On Thursday, July 23rd, Saba Capital Management, L.P. bought 414 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.11 per share, with a total value of $8,739.54.
• On Tuesday, July 21st, Saba Capital Management, L.P. bought 200 shares of Mexico Fund stock. The shares were acquired at an average price of $21.52 per share, with a total value of $4,304.00.
• On Wednesday, July 8th, Saba Capital Management, L.P. purchased 522 shares of Mexico Fund stock. The stock was bought 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 stock was bought at an average price 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 shares were bought at an average cost 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 shares were bought at an average cost of $21.52 per share, with a total value of $323,897.52.
• 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 bought at an average cost of $22.23 per share, for a total transaction of $89,742.51.

Mexico Fund Stock Performance

Shares of MXF opened at $21.28 on Thursday. Mexico Fund, Inc. has a 1 year low of $17.41 and a 1 year high of $23.00. The stock’s 50-day moving average price is $21.73 and its two-hundred day moving average price is $21.61.

Mexico Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 annualized dividend and a yield of 6.6%.

Institutional Investors Weigh In On Mexico Fund

Several hedge funds have recently bought and sold shares of MXF. Farther Finance Advisors LLC boosted its position in shares of Mexico Fund by 775.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock worth $27,000 after purchasing an additional 1,194 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in Mexico Fund by 109.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock worth $105,000 after buying an additional 2,735 shares during the period. Calamos Advisors LLC raised its stake in Mexico Fund by 32.1% during the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock worth $378,000 after buying an additional 4,563 shares during the period. Scotia Capital Inc. lifted its holdings in Mexico Fund by 127.8% during the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after acquiring an additional 14,241 shares in the last quarter. Finally, Altium Capital Management LLC bought a new position in Mexico Fund during the fourth quarter worth about $972,000.

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.