Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 16,035 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The stock was acquired at an average cost of $20.42 per share, with a total value of $327,434.70. Following the purchase, the insider directly owned 2,422,660 shares of the company’s stock, valued at $49,470,717.20. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 Wednesday, November 11th, Saba Capital Management, L.P. acquired 31,698 shares of Mexico Fund stock. The shares were bought at an average cost of $21.33 per share, for a total transaction of $676,118.34.
- On Tuesday, November 10th, Saba Capital Management, L.P. acquired 3,762 shares of Mexico Fund stock. The shares were bought at an average cost of $21.05 per share, for a total transaction of $79,190.10.
- On Monday, November 9th, Saba Capital Management, L.P. acquired 4,365 shares of Mexico Fund stock. The stock was bought at an average price of $21.06 per share, with a total value of $91,926.90.
- On Friday, November 6th, Saba Capital Management, L.P. bought 18,250 shares of Mexico Fund stock. The stock was bought at an average cost of $20.75 per share, with a total value of $378,687.50.
- On Thursday, November 5th, Saba Capital Management, L.P. bought 24,115 shares of Mexico Fund stock. The stock was bought 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. bought 15,011 shares of Mexico Fund stock. The shares were bought at an average cost of $20.95 per share, for a total transaction of $314,480.45.
- On Tuesday, November 3rd, Saba Capital Management, L.P. purchased 13,804 shares of Mexico Fund stock. The shares were bought 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 shares were bought 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 stock was bought at an average cost of $20.25 per share, with a total value of $306,645.75.
- On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The stock was bought at an average cost of $20.11 per share, with a total value of $480,649.11.
Mexico Fund Stock Performance
Shares of MXF opened at $21.11 on Friday. Mexico Fund, Inc. has a one year low of $18.62 and a one year high of $23.00. The company has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $21.42.
Mexico Fund Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, October 21st. This represents a $1.40 annualized dividend and a dividend yield of 6.6%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Beverly Hills Private Wealth LLC grew its stake in Mexico Fund by 13.2% in the third quarter. Beverly Hills Private Wealth LLC now owns 41,537 shares of the investment management company’s stock worth $847,000 after purchasing an additional 4,855 shares during the period. Uhlmann Price Securities LLC raised its holdings in Mexico Fund by 2.3% in the third quarter. Uhlmann Price Securities LLC now owns 113,006 shares of the investment management company’s stock worth $2,304,000 after purchasing an additional 2,544 shares in the last quarter. Calamos Advisors LLC lifted 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 buying an additional 1,050 shares during the period. City of London Investment Management Co. Ltd. lifted its position in Mexico Fund by 0.6% during the third 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 buying an additional 19,166 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted its position in Mexico Fund by 25.8% during the third quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company’s stock valued at $774,000 after buying an additional 7,774 shares during the period.
About Mexico Fund
The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.
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