Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 29,500 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 29,500 shares of the business’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $22.30 per share, for a total transaction of $657,850.00. Following the completion of the acquisition, the insider directly owned 2,234,685 shares in the company, valued at approximately $49,833,475.50. This trade represents a 1.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large 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, June 11th, Saba Capital Management, L.P. bought 5,117 shares of Mexico Fund stock. The shares were bought at an average cost of $21.60 per share, for a total transaction of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. bought 11,081 shares of Mexico Fund stock. The shares were bought at an average cost of $21.39 per share, for a total transaction of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. bought 3,600 shares of Mexico Fund stock. The shares were bought at an average cost of $21.14 per share, for a total transaction of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. bought 19,906 shares of Mexico Fund stock. The shares were bought at an average cost of $21.64 per share, for a total transaction of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. bought 32,102 shares of Mexico Fund stock. The shares were bought at an average cost of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. bought 31,949 shares of Mexico Fund stock. The shares were bought at an average cost of $22.16 per share, for a total transaction of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. bought 9,633 shares of Mexico Fund stock. The shares were bought at an average cost of $22.24 per share, for a total transaction of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. acquired 708 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.90 per share, with a total value of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. acquired 18,466 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.17 per share, with a total value of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. acquired 6,700 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.16 per share, with a total value of $148,472.00.

Mexico Fund Stock Performance

Shares of MXF stock traded down $0.01 during mid-day trading on Monday, hitting $22.29. The company’s stock had a trading volume of 36,620 shares, compared to its average volume of 64,320. The company’s fifty day simple moving average is $21.75 and its 200-day simple moving average is $21.22. Mexico Fund, Inc. has a 52 week low of $16.43 and a 52 week high of $23.00.

Mexico Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.3%.

Institutional Trading of Mexico Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Uhlmann Price Securities LLC increased its position in Mexico Fund by 1.0% in the 4th quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock valued at $2,118,000 after buying an additional 1,074 shares in the last quarter. Farther Finance Advisors LLC increased its position in Mexico Fund by 775.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after buying an additional 1,194 shares in the last quarter. Calamos Advisors LLC increased its position in Mexico Fund by 13.5% in the 1st quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock valued at $446,000 after buying an additional 2,535 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its position in Mexico Fund by 109.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after buying an additional 2,735 shares in the last quarter. Finally, Alpine Global Management LLC bought a new stake in Mexico Fund in the 3rd quarter valued at about $265,000.

About Mexico Fund

The Mexico Fund, Inc (NYSE: MXF) is a closed-end management investment company that seeks long-term capital appreciation through exposure to Mexican securities. The fund primarily invests in equity instruments of companies organized or principally operating in Mexico, spanning a range of sectors such as financial services, consumer goods, industrials and energy. It may also allocate portions of its portfolio to fixed-income securities, including government and corporate bonds, when attractive opportunities arise.

Launched in 1991 and incorporated under Maryland law, The Mexico Fund offers U.S.