Saba Capital Management, L.P. Buys 32,126 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 32,126 shares of the company’s stock in a transaction on Friday, February 13th. The stock was acquired at an average cost of $22.69 per share, for a total transaction of $728,938.94. Following the completion of the purchase, the insider owned 1,730,621 shares of the company’s stock, valued at approximately $39,267,790.49. This trade represents a 1.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 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 Thursday, January 29th, Saba Capital Management, L.P. acquired 3,115 shares of Mexico Fund stock. The shares were bought at an average cost of $21.97 per share, for a total transaction of $68,436.55.
• On Monday, January 26th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The stock was purchased 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 stock was acquired at an average cost 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 shares were bought at an average cost 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 purchased at an average cost of $20.24 per share, with a total value of $202.40.
• On Tuesday, December 16th, Saba Capital Management, L.P. purchased 16,228 shares of Mexico Fund stock. The shares were acquired at an average cost 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 shares were acquired at an average price of $20.22 per share, for a total transaction of $575,764.50.
• On Friday, December 12th, Saba Capital Management, L.P. acquired 9,400 shares of Mexico Fund stock. The stock was acquired 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 cost of $20.20 per share, with a total value of $121,361.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The shares were acquired at an average price of $19.70 per share, for a total transaction of $19,700.00.

Mexico Fund Price Performance

Shares of NYSE:MXF opened at $22.43 on Thursday. The company’s 50-day moving average is $21.14 and its 200 day moving average is $19.67. Mexico Fund, Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $22.99.

Mexico Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, January 21st were paid a $0.35 dividend. The ex-dividend date 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 6.2%.

Institutional Trading of Mexico Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its stake in shares of Mexico Fund by 775.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after buying an additional 1,194 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in Mexico Fund by 92.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock valued at $49,000 after acquiring an additional 1,200 shares during the period. Scotia Capital Inc. purchased a new stake in shares of Mexico Fund during the second quarter worth $196,000. Alpine Global Management LLC bought a new position in shares of Mexico Fund in the third quarter worth $265,000. Finally, Calamos Advisors LLC boosted its holdings in shares of Mexico Fund by 21.7% in the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock worth $280,000 after acquiring an additional 2,535 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.