Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 13,804 Shares of Company Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 13,804 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was bought at an average price of $20.54 per share, with a total value of $283,534.16. Following the completion of the acquisition, the insider owned 2,478,829 shares in the company, valued at $50,915,147.66. This represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, November 5th, Saba Capital Management, L.P. acquired 24,115 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.72 per share, with a total value of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. acquired 15,011 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.95 per share, with a total value of $314,480.45.
• On Monday, November 2nd, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The shares were purchased at an average price of $20.51 per share, with a total value of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The stock was purchased at an average price of $20.25 per share, for a total transaction of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. bought 23,901 shares of Mexico Fund stock. The stock was purchased at an average price of $20.11 per share, for a total transaction of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.13 per share, for a total transaction of $22,565.73.
• On Thursday, October 22nd, Saba Capital Management, L.P. acquired 2,000 shares of Mexico Fund stock. The stock was acquired at an average price of $20.14 per share, for a total transaction of $40,280.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. acquired 16,035 shares of Mexico Fund stock. The stock was acquired at an average price of $20.42 per share, with a total value 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 cost of $19.88 per share, with a total value of $254,285.08.
• On Monday, October 5th, Saba Capital Management, L.P. bought 25,900 shares of Mexico Fund stock. The stock was acquired at an average price of $20.09 per share, for a total transaction of $520,331.00.

Mexico Fund Price Performance

NYSE:MXF traded up $0.02 on Tuesday, reaching $21.06. The company’s stock 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 stock has a 50 day moving average price of $20.71 and a 200 day moving average price of $21.42.

Mexico Fund Dividend Announcement

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

Hedge Funds Weigh In On Mexico Fund

Several institutional investors have recently bought and sold shares of the company. City of London Investment Management Co. Ltd. grew its position in Mexico Fund by 0.6% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 3,230,491 shares of the investment management company’s stock valued at $65,870,000 after acquiring an additional 19,166 shares in the last quarter. Saba Capital Management L.P. lifted its position in shares of Mexico Fund by 4.3% during the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock worth $36,927,000 after purchasing an additional 73,032 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Mexico Fund by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after purchasing an additional 27,983 shares in the last quarter. Almitas Capital LLC purchased a new position in shares of Mexico Fund in the second quarter valued at approximately $3,736,000. Finally, North Ground Capital purchased a new position in shares of Mexico Fund in the second quarter valued at approximately $2,981,931.

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.