Saba Capital Management, L.P. Buys 3,115 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 3,115 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was purchased at an average price of $21.97 per share, with a total value of $68,436.55. Following the completion of the transaction, the insider owned 1,698,495 shares of the company’s stock, valued at approximately $37,315,935.15. This trade represents a 0.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large 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 Monday, January 26th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The shares were acquired at an average price of $21.50 per share, for a total transaction of $21,500.00.
• On Wednesday, January 21st, Saba Capital Management, L.P. acquired 550 shares of Mexico Fund stock. The shares were bought at an average price of $21.29 per share, for a total transaction of $11,709.50.
• On Monday, January 12th, Saba Capital Management, L.P. bought 2,520 shares of Mexico Fund stock. The stock was purchased at an average price of $20.45 per share, for a total transaction of $51,534.00.
• On Friday, January 9th, Saba Capital Management, L.P. acquired 10 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.24 per share, for a total transaction of $202.40.
• On Tuesday, December 16th, Saba Capital Management, L.P. acquired 16,228 shares of Mexico Fund stock. The shares were acquired at an average price of $19.95 per share, with a total value of $323,748.60.
• On Monday, December 15th, Saba Capital Management, L.P. purchased 28,475 shares of Mexico Fund stock. The stock was bought at an average price of $20.22 per share, with a total value of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. purchased 9,400 shares of Mexico Fund stock. The stock was purchased at an average price of $19.91 per share, with a total value of $187,154.00.
• On Thursday, December 11th, Saba Capital Management, L.P. bought 6,008 shares of Mexico Fund stock. The shares were acquired at an average price of $20.20 per share, with a total value of $121,361.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. acquired 1,000 shares of Mexico Fund stock. The stock was bought at an average price of $19.70 per share, for a total transaction of $19,700.00.
• On Tuesday, December 9th, Saba Capital Management, L.P. acquired 628 shares of Mexico Fund stock. The shares were purchased at an average price of $19.74 per share, with a total value of $12,396.72.

Mexico Fund Price Performance

Shares of Mexico Fund stock opened at $22.22 on Wednesday. Mexico Fund, Inc. has a 52-week low of $13.10 and a 52-week high of $22.50. The firm has a 50-day moving average of $20.49 and a 200-day moving average of $19.29.

Mexico Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, January 21st. This is a positive change from Mexico Fund’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 6.3%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. City of London Investment Management Co. Ltd. boosted its stake in shares of Mexico Fund by 9.3% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company’s stock valued at $63,406,000 after purchasing an additional 305,864 shares during the last quarter. North Ground Capital acquired a new position in Mexico Fund in the third quarter valued at approximately $608,000. Verition Fund Management LLC boosted its holdings in shares of Mexico Fund by 21.7% during the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock worth $1,960,000 after buying an additional 17,747 shares in the last quarter. Scotia Capital Inc. boosted its holdings in shares of Mexico Fund by 127.8% during the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after buying an additional 14,241 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Mexico Fund during the 3rd quarter worth approximately $265,000.

About Mexico Fund

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.