Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 834 Shares of Company Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 834 shares of the business’s stock in a transaction on Friday, September 25th. The shares were purchased at an average cost of $20.74 per share, for a total transaction of $17,297.16. Following the completion of the transaction, the insider owned 2,343,069 shares in the company, valued at approximately $48,595,251.06. This represents a 0.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% 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 Thursday, September 24th, Saba Capital Management, L.P. bought 1,049 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.69 per share, for a total transaction of $21,703.81.
• On Wednesday, September 23rd, Saba Capital Management, L.P. bought 28,464 shares of Mexico Fund stock. The shares were acquired at an average price of $21.02 per share, with a total value of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. bought 110 shares of Mexico Fund stock. The stock was bought at an average cost of $20.90 per share, for a total transaction of $2,299.00.
• On Monday, September 21st, Saba Capital Management, L.P. acquired 2,034 shares of Mexico Fund stock. The shares were purchased at an average price of $21.03 per share, with a total value 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, with a total value of $132,093.89.
• On Tuesday, September 15th, Saba Capital Management, L.P. bought 459 shares of Mexico Fund stock. The shares were bought 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. acquired 2,952 shares of Mexico Fund stock. The shares were purchased at an average price 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 stock was acquired at an average price of $22.19 per share, for a total transaction of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock. The shares were purchased at an average price of $21.34 per share, for a total transaction of $65,663.18.
• On Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The stock was purchased at an average price of $21.56 per share, for a total transaction of $56,228.48.

Mexico Fund Price Performance

Mexico Fund stock traded up $0.01 during mid-day trading on Monday, reaching $20.72. 14,854 shares of the company’s stock traded hands, compared to its average volume of 52,147. 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 of $21.51 and a two-hundred day moving average of $21.51.

Mexico Fund Announces Dividend

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

Institutional Investors Weigh In On Mexico Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of MXF. Saba Capital Management L.P. lifted its holdings in 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 acquiring an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Mexico Fund by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after acquiring an additional 27,983 shares in the last quarter. Almitas Capital LLC acquired a new position in Mexico Fund in the 2nd quarter valued at $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund in the second quarter worth about $2,981,931. Finally, Altium Capital Management LLC boosted its position in Mexico Fund by 165.5% during the first 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.

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.