Mexico Fund (NYSE:MXF) Major Shareholder Acquires $494,484.12 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 22,914 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $21.58 per share, for a total transaction of $494,484.12. Following the completion of the transaction, the insider owned 1,995,137 shares of the company’s stock, valued at $43,055,056.46. This represents a 1.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large 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, May 20th, Saba Capital Management, L.P. bought 4,610 shares of Mexico Fund stock. The shares were purchased at an average price of $21.68 per share, for a total transaction of $99,944.80.
• On Monday, May 18th, Saba Capital Management, L.P. bought 18,586 shares of Mexico Fund stock. The shares were purchased at an average price of $21.59 per share, for a total transaction of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. acquired 8,334 shares of Mexico Fund stock. The stock was bought at an average price of $22.00 per share, for a total transaction of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. acquired 33,108 shares of Mexico Fund stock. The stock was bought at an average price of $22.00 per share, for a total transaction of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. acquired 15,148 shares of Mexico Fund stock. The stock was bought at an average price of $22.13 per share, for a total transaction of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. acquired 9,000 shares of Mexico Fund stock. The stock was bought at an average price of $22.01 per share, for a total transaction of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. acquired 3,000 shares of Mexico Fund stock. The stock was bought at an average price of $21.82 per share, for a total transaction of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. acquired 217 shares of Mexico Fund stock. The stock was bought at an average price of $21.33 per share, for a total transaction of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. acquired 100,000 shares of Mexico Fund stock. The stock was bought at an average price of $21.83 per share, for a total transaction of $2,183,000.00.
• On Tuesday, April 21st, Saba Capital Management, L.P. acquired 3,505 shares of Mexico Fund stock. The stock was bought at an average price of $21.86 per share, for a total transaction of $76,619.30.

Mexico Fund Trading Up 0.1%

Mexico Fund stock opened at $21.68 on Friday. The stock has a fifty day moving average price of $21.32 and a 200 day moving average price of $20.92. Mexico Fund, Inc. has a 52 week low of $16.22 and a 52 week high of $23.00.

Mexico Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.5%. The ex-dividend date was Wednesday, April 22nd.

Institutional Investors Weigh In On Mexico Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Mexico Fund by 775.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock worth $27,000 after acquiring an additional 1,194 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its stake in Mexico Fund by 109.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock worth $105,000 after acquiring an additional 2,735 shares during the last quarter. Alpine Global Management LLC acquired a new stake in Mexico Fund during the third quarter worth about $265,000. Calamos Advisors LLC increased its stake in Mexico Fund by 32.1% during the fourth quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock worth $378,000 after acquiring an additional 4,563 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in Mexico Fund by 127.8% during the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after acquiring an additional 14,241 shares during the last quarter.

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.