Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Purchases 25,900 Shares of Company Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 25,900 shares of the business’s stock in a transaction on Monday, October 5th. The stock was acquired at an average cost of $20.09 per share, with a total value of $520,331.00. Following the acquisition, the insider directly owned 2,393,834 shares in the company, valued at approximately $48,092,125.06. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 2nd, Saba Capital Management, L.P. purchased 1,573 shares of Mexico Fund stock. The shares were purchased at an average price of $19.74 per share, for a total transaction of $31,051.02.
• On Thursday, October 1st, Saba Capital Management, L.P. purchased 17,921 shares of Mexico Fund stock. The stock was bought at an average price of $20.00 per share, for a total transaction of $358,420.00.
• On Wednesday, September 30th, Saba Capital Management, L.P. purchased 1,238 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.39 per share, for a total transaction of $25,242.82.
• On Monday, September 28th, Saba Capital Management, L.P. acquired 4,133 shares of Mexico Fund stock. The shares were bought at an average price of $20.74 per share, with a total value of $85,718.42.
• On Friday, September 25th, Saba Capital Management, L.P. bought 834 shares of Mexico Fund stock. The shares were acquired at an average price of $20.74 per share, for a total transaction of $17,297.16.
• On Thursday, September 24th, Saba Capital Management, L.P. bought 1,049 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.69 per share, for a total transaction of $21,703.81.
• On Wednesday, September 23rd, Saba Capital Management, L.P. purchased 28,464 shares of Mexico Fund stock. The shares were purchased at an average price of $21.02 per share, for a total transaction of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. bought 110 shares of Mexico Fund stock. The stock was bought at an average price of $20.90 per share, for a total transaction of $2,299.00.
• On Monday, September 21st, Saba Capital Management, L.P. purchased 2,034 shares of Mexico Fund stock. The shares were acquired at an average price of $21.03 per share, for a total transaction of $42,775.02.
• On Wednesday, September 16th, Saba Capital Management, L.P. purchased 6,403 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.63 per share, for a total transaction of $132,093.89.

Mexico Fund Stock Performance

NYSE:MXF traded down $0.01 during mid-day trading on Wednesday, reaching $20.23. The stock had a trading volume of 16,777 shares, compared to its average volume of 51,370. The firm has a 50 day moving average price of $21.34 and a two-hundred day moving average price of $21.50. Mexico Fund, Inc. has a one year low of $18.30 and a one year high of $23.00.

Mexico Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Wednesday, October 21st.

Institutional Trading of Mexico Fund

Several large investors have recently added to or reduced their stakes in MXF. Saba Capital Management L.P. increased its stake in shares of Mexico Fund by 4.3% in 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 increased its stake in Mexico Fund by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after buying an additional 27,983 shares during the period. Almitas Capital LLC purchased a new position in Mexico Fund during the 2nd quarter valued at about $3,736,000. North Ground Capital purchased a new position in Mexico Fund in the second quarter valued at about $2,981,931. Finally, Altium Capital Management LLC boosted its position in shares of Mexico Fund by 165.5% in the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after purchasing an additional 79,898 shares in the last quarter.

About Mexico Fund

The Mexico Fund, Inc (NYSE: MXF) is a non-diversified, closed-end investment company focused on providing long-term capital appreciation through investments in securities of Mexican companies. The fund primarily invests in publicly traded equities, although it may also hold other investments that provide exposure to Mexico’s economy and financial markets.

MXF offers investors a vehicle for gaining diversified exposure to Mexico across multiple industries and sectors. Its portfolio may include companies that operate in areas such as consumer goods, financial services, telecommunications, industrials, materials, and other segments of the Mexican economy.