Saba Capital Management, L.P. Purchases 2,871 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 2,871 shares of the stock in a transaction on Friday, March 20th. The shares were acquired at an average cost of $19.83 per share, for a total transaction of $56,931.93. Following the purchase, the insider owned 1,747,033 shares in the company, valued at $34,643,664.39. The trade was a 0.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, March 18th, Saba Capital Management, L.P. bought 5,000 shares of Mexico Fund stock. The stock was acquired at an average price of $20.38 per share, with a total value of $101,900.00.
• On Friday, March 13th, Saba Capital Management, L.P. purchased 2,600 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.21 per share, for a total transaction of $52,546.00.
• On Thursday, March 12th, Saba Capital Management, L.P. purchased 456 shares of Mexico Fund stock. The shares were acquired at an average price of $20.35 per share, for a total transaction of $9,279.60.
• On Tuesday, March 10th, Saba Capital Management, L.P. acquired 1,005 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.94 per share, with a total value of $21,044.70.
• On Thursday, March 5th, Saba Capital Management, L.P. acquired 4,480 shares of Mexico Fund stock. The stock was acquired at an average price of $21.34 per share, with a total value of $95,603.20.
• On Friday, February 13th, Saba Capital Management, L.P. acquired 32,126 shares of Mexico Fund stock. The stock was acquired at an average price of $22.69 per share, with a total value of $728,938.94.
• On Thursday, January 29th, Saba Capital Management, L.P. bought 3,115 shares of Mexico Fund stock. The stock was acquired 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 shares were bought 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. purchased 550 shares of Mexico Fund stock. The stock was bought at an average price of $21.29 per share, with a total value of $11,709.50.
• On Monday, January 12th, Saba Capital Management, L.P. purchased 2,520 shares of Mexico Fund stock. The stock was bought at an average price of $20.45 per share, with a total value of $51,534.00.

Mexico Fund Stock Up 1.6%

NYSE:MXF opened at $20.23 on Wednesday. Mexico Fund, Inc. has a one year low of $13.10 and a one year high of $23.00. The stock has a 50 day moving average price of $21.60 and a 200 day moving average price of $20.21.

Mexico Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Investors Weigh In On Mexico Fund

Several hedge funds and other institutional investors have recently bought and sold shares of MXF. Saba Capital Management L.P. grew its position in Mexico Fund by 32.4% in the fourth quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company’s stock worth $34,063,000 after acquiring an additional 413,606 shares during the period. Quantedge Capital Pte Ltd raised its position in Mexico Fund by 3.7% in the second quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company’s stock valued at $2,286,000 after purchasing an additional 4,650 shares during the period. North Ground Capital lifted its stake in shares of Mexico Fund by 309.2% in the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock valued at $2,544,000 after purchasing an additional 95,443 shares during the last quarter. Uhlmann Price Securities LLC lifted its stake in shares of Mexico Fund by 1.0% in the 4th quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock valued at $2,118,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Verition Fund Management LLC grew 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 purchasing an additional 17,747 shares during the period.

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.