Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 1,121 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 1,121 shares of Mexico Fund stock in a transaction dated Wednesday, October 28th. The stock was purchased at an average cost of $20.13 per share, for a total transaction of $22,565.73. Following the completion of the acquisition, the insider directly owned 2,425,781 shares of the company’s stock, valued at approximately $48,830,971.53. The trade was a 0.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 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, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The shares were purchased at an average price of $20.72 per share, with a total value of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. bought 15,011 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.95 per share, with a total value of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock. The stock was acquired at an average price of $20.54 per share, for a total transaction of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was acquired at an average price of $20.51 per share, for a total transaction of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. purchased 15,143 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.25 per share, for a total transaction of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The shares were acquired at an average price of $20.11 per share, with a total value of $480,649.11.
• On Thursday, October 22nd, Saba Capital Management, L.P. acquired 2,000 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.14 per share, with a total value of $40,280.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 16,035 shares of Mexico Fund stock. The stock was acquired at an average price of $20.42 per share, for a total transaction of $327,434.70.
• On Wednesday, October 14th, Saba Capital Management, L.P. bought 12,791 shares of Mexico Fund stock. The shares were acquired at an average price of $19.88 per share, for a total transaction of $254,285.08.
• On Monday, October 5th, Saba Capital Management, L.P. purchased 25,900 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.09 per share, with a total value of $520,331.00.

Mexico Fund Trading Up 0.1%

MXF traded up $0.02 on Tuesday, hitting $21.06. The company had a trading volume of 7,704 shares, compared to its average volume of 50,814. Mexico Fund, Inc. has a 12-month low of $18.62 and a 12-month high of $23.00. The business’s fifty day simple moving average is $20.71 and its 200 day simple moving average is $21.42.

Mexico Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Wednesday, October 21st.

Hedge Funds Weigh In On Mexico Fund

Several large investors have recently modified their holdings of MXF. Northwestern Mutual Wealth Management Co. purchased a new stake in Mexico Fund during the 2nd quarter valued at $33,000. Susquehanna International Group LLP purchased a new position in Mexico Fund during the second quarter worth $215,000. Evolve Private Wealth LLC purchased a new position in Mexico Fund during the second quarter worth $278,000. Calamos Advisors LLC increased its position in Mexico Fund by 6.7% during the third quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company’s stock valued at $343,000 after acquiring an additional 1,050 shares during the last quarter. Finally, Hudson Portfolio Management LLC bought a new position in Mexico Fund during the second quarter valued at $784,000.

Mexico Fund Company Profile

The Mexico Fund, Inc. (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.