Mexico Fund (NYSE:MXF) Major Shareholder Acquires $335,225.24 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 15,148 shares of the stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $22.13 per share, with a total value of $335,225.24. Following the purchase, the insider owned 1,912,195 shares of the company’s stock, valued at approximately $42,316,875.35. This represents a 0.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 Tuesday, May 12th, Saba Capital Management, L.P. bought 9,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.01 per share, with a total value of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. bought 3,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.82 per share, with a total value of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. bought 217 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.33 per share, with a total value of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. bought 100,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.83 per share, with a total value of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. purchased 3,505 shares of Mexico Fund stock. The shares were bought at an average price of $21.86 per share, with a total value of $76,619.30.
• On Friday, April 17th, Saba Capital Management, L.P. purchased 179 shares of Mexico Fund stock. The shares were bought at an average price of $22.00 per share, with a total value of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. purchased 2,200 shares of Mexico Fund stock. The shares were bought at an average price of $22.17 per share, with a total value of $48,774.00.
• On Monday, April 6th, Saba Capital Management, L.P. purchased 3,814 shares of Mexico Fund stock. The shares were bought at an average price of $21.23 per share, with a total value of $80,971.22.
• On Thursday, April 2nd, Saba Capital Management, L.P. purchased 10,800 shares of Mexico Fund stock. The shares were bought at an average price of $21.28 per share, with a total value of $229,824.00.
• On Friday, March 20th, Saba Capital Management, L.P. purchased 2,871 shares of Mexico Fund stock. The shares were bought at an average price of $19.83 per share, with a total value of $56,931.93.

Mexico Fund Trading Down 1.9%

Shares of NYSE:MXF opened at $21.60 on Friday. The company has a fifty day moving average of $21.25 and a 200-day moving average of $20.84. Mexico Fund, Inc. has a 52-week low of $16.10 and a 52-week high of $23.00.

Mexico Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.5%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. North Ground Capital acquired a new position in shares of Mexico Fund in the third quarter valued at approximately $608,000. Blue Bell Private Wealth Management LLC increased its holdings in Mexico Fund by 109.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 2,735 shares during the period. Verition Fund Management LLC increased its holdings in Mexico Fund by 21.7% in the third quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after purchasing an additional 17,747 shares during the period. Marex Group plc acquired a new stake in Mexico Fund in the fourth quarter valued at $1,926,000. Finally, Scotia Capital Inc. increased its holdings in Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after purchasing an additional 14,241 shares during the period.

Mexico Fund Company Profile

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.