Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires 47,273 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 47,273 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average cost of $19.15 per share, for a total transaction of $905,277.95. Following the completion of the purchase, the insider directly owned 1,597,698 shares in the company, valued at $30,595,916.70. This represents a 3.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 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 Monday, November 17th, Saba Capital Management, L.P. purchased 13,451 shares of Mexico Fund stock. The shares were bought at an average price of $18.94 per share, for a total transaction of $254,761.94.
• On Thursday, October 23rd, Saba Capital Management, L.P. acquired 506 shares of Mexico Fund stock. The shares were purchased at an average cost of $18.64 per share, with a total value of $9,431.84.

Mexico Fund Stock Performance

MXF traded down $0.17 during trading on Thursday, hitting $18.82. The stock had a trading volume of 82,767 shares, compared to its average volume of 56,377. Mexico Fund, Inc. has a 12 month low of $12.99 and a 12 month high of $19.86. The company has a 50 day simple moving average of $19.12 and a 200-day simple moving average of $17.96.

Mexico Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 30th. Shareholders of record on Wednesday, October 22nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.3%.

Institutional Investors Weigh In On Mexico Fund

Institutional investors have recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. bought a new stake in shares of Mexico Fund during the first quarter valued at approximately $46,000. Blue Bell Private Wealth Management LLC raised its position in Mexico Fund by 92.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock valued at $49,000 after purchasing an additional 1,200 shares during the last quarter. Scotia Capital Inc. acquired a new position in Mexico Fund during the 2nd quarter worth about $196,000. Calamos Advisors LLC boosted its position in Mexico Fund by 21.7% in the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock valued at $280,000 after buying an additional 2,535 shares during the last quarter. Finally, North Ground Capital acquired a new stake in Mexico Fund in the third quarter worth about $608,000.

About Mexico Fund

The Mexico Fund, Inc is a closed-ended equity mutual fund launched and managed by Impulsora del Fondo México, S.C. It primarily invests in public equity markets of Mexico. The fund seeks to invest its portfolio across diversified sectors. The Mexico Fund, Inc was formed in June 01, 1981 and is domiciled in Maryland, United States.