Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 28,464 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 28,464 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was purchased at an average cost of $21.02 per share, for a total transaction of $598,313.28. Following the completion of the purchase, the insider directly owned 2,341,186 shares of the company’s stock, valued at $49,211,729.72. The trade was a 1.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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, September 22nd, Saba Capital Management, L.P. bought 110 shares of Mexico Fund stock. The shares were acquired at an average price of $20.90 per share, with a total value of $2,299.00.
• On Monday, September 21st, Saba Capital Management, L.P. bought 2,034 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.03 per share, for a total transaction of $42,775.02.
• On Wednesday, September 16th, Saba Capital Management, L.P. purchased 6,403 shares of Mexico Fund stock. The stock was acquired at an average price of $20.63 per share, for a total transaction of $132,093.89.
• On Tuesday, September 15th, Saba Capital Management, L.P. purchased 459 shares of Mexico Fund stock. The stock was acquired at an average price of $20.89 per share, for a total transaction of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. purchased 2,952 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.41 per share, with a total value of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The shares were acquired at an average price of $22.19 per share, with a total value of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. acquired 3,077 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.34 per share, for a total transaction of $65,663.18.
• On Tuesday, July 28th, Saba Capital Management, L.P. acquired 2,608 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.56 per share, for a total transaction 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, 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.

Mexico Fund Price Performance

Shares of NYSE MXF opened at $20.70 on Friday. Mexico Fund, Inc. has a 12 month low of $18.30 and a 12 month high of $23.00. The stock has a 50-day moving average price of $21.52 and a two-hundred day moving average price of $21.51.

Mexico Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 21st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Wednesday, October 21st.

Institutional Trading of Mexico Fund

A number of hedge funds have recently added to or reduced their stakes in MXF. 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 acquiring an additional 79,898 shares during the last quarter. North Ground Capital acquired a new position in shares of Mexico Fund in the second quarter valued at approximately $2,981,931. Saba Capital Management L.P. increased 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 valued at $36,927,000 after buying an additional 73,032 shares during the period. Public Employees Retirement System of Ohio bought a new position in Mexico Fund in the 2nd quarter valued at approximately $2,266,000. Finally, Almitas Capital LLC bought a new position in Mexico Fund in the 2nd quarter valued at approximately $3,736,000.

About Mexico Fund

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico’s economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.