Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Acquires 3,762 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 3,762 shares of the business’s stock in a transaction dated Tuesday, November 10th. The stock was acquired at an average cost of $21.05 per share, for a total transaction of $79,190.10. Following the purchase, the insider owned 2,544,332 shares in the company, valued at approximately $53,558,188.60. This trade represents a 0.15% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Wednesday, November 11th, Saba Capital Management, L.P. purchased 31,698 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.33 per share, with a total value of $676,118.34.
• On Monday, November 9th, Saba Capital Management, L.P. purchased 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. purchased 18,250 shares of Mexico Fund stock. The stock was bought at an average price of $20.75 per share, with a total value of $378,687.50.
• On Thursday, November 5th, Saba Capital Management, L.P. acquired 24,115 shares of Mexico Fund stock. The stock was bought at an average cost of $20.72 per share, for a total transaction of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. acquired 15,011 shares of Mexico Fund stock. The stock was 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. acquired 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. acquired 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. bought 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. bought 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.
• On Wednesday, October 28th, Saba Capital Management, L.P. bought 1,121 shares of Mexico Fund stock. The stock was bought at an average price of $20.13 per share, with a total value of $22,565.73.

Mexico Fund Price Performance

Shares of MXF stock traded down $0.12 during trading hours on Thursday, reaching $21.11. The company had a trading volume of 17,722 shares, compared to its average volume of 50,699. Mexico Fund, Inc. has a twelve month low of $18.62 and a twelve month high of $23.00. The stock’s fifty day simple moving average is $20.69 and its 200 day simple moving average is $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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Wednesday, October 21st.

Institutional Investors Weigh In On Mexico Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Almitas Capital LLC acquired a new position in Mexico Fund in the 2nd quarter worth $3,736,000. North Ground Capital acquired a new stake in Mexico Fund during the 2nd quarter valued at approximately $2,981,931. Public Employees Retirement System of Ohio purchased a new stake in Mexico Fund during the 2nd quarter worth approximately $2,266,000. Saba Capital Management L.P. increased its holdings in Mexico Fund by 4.3% during the 1st 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 during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in Mexico Fund during the 2nd quarter worth approximately $875,000.

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.