Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases $358,420.00 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 17,921 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was acquired at an average price of $20.00 per share, for a total transaction of $358,420.00. Following the completion of the transaction, the insider owned 2,366,361 shares in the company, valued at $47,327,220. This trade represents a 0.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major 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 Monday, October 5th, Saba Capital Management, L.P. purchased 25,900 shares of Mexico Fund stock. The shares were acquired at an average price of $20.09 per share, with a total value of $520,331.00.
• On Friday, October 2nd, Saba Capital Management, L.P. purchased 1,573 shares of Mexico Fund stock. The shares were acquired at an average price of $19.74 per share, with a total value of $31,051.02.
• On Wednesday, September 30th, Saba Capital Management, L.P. purchased 1,238 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.39 per share, with a total value of $25,242.82.
• On Monday, September 28th, Saba Capital Management, L.P. purchased 4,133 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.74 per share, for a total transaction of $85,718.42.
• On Friday, September 25th, Saba Capital Management, L.P. acquired 834 shares of Mexico Fund stock. The shares were bought at an average price of $20.74 per share, for a total transaction of $17,297.16.
• On Thursday, September 24th, Saba Capital Management, L.P. acquired 1,049 shares of Mexico Fund stock. The shares were bought at an average price of $20.69 per share, for a total transaction of $21,703.81.
• On Wednesday, September 23rd, Saba Capital Management, L.P. acquired 28,464 shares of Mexico Fund stock. The stock was bought at an average cost 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 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 bought 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. bought 6,403 shares of Mexico Fund stock. The shares were bought at an average cost of $20.63 per share, for a total transaction of $132,093.89.

Mexico Fund Stock Performance

MXF stock opened at $20.19 on Thursday. Mexico Fund, Inc. has a 52 week low of $18.30 and a 52 week high of $23.00. The firm’s 50-day moving average is $21.31 and its two-hundred day moving average is $21.50.

Mexico Fund Dividend Announcement

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 paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Wednesday, October 21st.

Institutional Investors Weigh In On Mexico Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Saba Capital Management L.P. boosted its stake in 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. Allspring Global Investments Holdings LLC lifted its holdings in shares of Mexico Fund by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock valued at $20,548,000 after buying an additional 27,983 shares during the period. Almitas Capital LLC acquired a new stake in shares of Mexico Fund in the second quarter valued at $3,736,000. North Ground Capital bought a new position in Mexico Fund during the second quarter valued at about $2,981,931. Finally, Altium Capital Management LLC boosted its stake 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 valued at $2,683,000 after buying an additional 79,898 shares in the last quarter.

Mexico Fund Company Profile

The Mexico Fund, Inc (NYSE: MXF) is a non-diversified, closed-end investment company focused on providing long-term capital appreciation through investments in securities of Mexican companies. The fund primarily invests in publicly traded equities, although it may also hold other investments that provide exposure to Mexico’s economy and financial markets.

MXF offers investors a vehicle for gaining diversified exposure to Mexico across multiple industries and sectors. Its portfolio may include companies that operate in areas such as consumer goods, financial services, telecommunications, industrials, materials, and other segments of the Mexican economy.