Saba Capital Management, L.P. Buys 522 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 522 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was bought at an average price of $21.26 per share, for a total transaction of $11,097.72. Following the purchase, the insider owned 2,262,484 shares in the company, valued at approximately $48,100,409.84. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, July 7th, Saba Capital Management, L.P. bought 1,828 shares of Mexico Fund stock. The shares were bought at an average cost of $21.73 per share, with a total value of $39,722.44.
• On Wednesday, June 24th, Saba Capital Management, L.P. purchased 5,100 shares of Mexico Fund stock. The stock was bought at an average cost of $21.31 per share, for a total transaction of $108,681.00.
• On Tuesday, June 23rd, Saba Capital Management, L.P. acquired 15,051 shares of Mexico Fund stock. The shares were purchased at an average price of $21.52 per share, with a total value of $323,897.52.
• On Thursday, June 18th, Saba Capital Management, L.P. acquired 1,261 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.19 per share, with a total value of $27,981.59.
• On Wednesday, June 17th, Saba Capital Management, L.P. bought 4,037 shares of Mexico Fund stock. The stock was purchased at an average price of $22.23 per share, for a total transaction of $89,742.51.
• On Friday, June 12th, Saba Capital Management, L.P. bought 29,500 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.30 per share, for a total transaction of $657,850.00.
• On Thursday, June 11th, Saba Capital Management, L.P. purchased 5,117 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.60 per share, with a total value of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. purchased 11,081 shares of Mexico Fund stock. The shares were purchased at an average price of $21.39 per share, with a total value of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. purchased 3,600 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.14 per share, with a total value of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. acquired 19,906 shares of Mexico Fund stock. The stock was purchased at an average price of $21.64 per share, for a total transaction of $430,765.84.

Mexico Fund Stock Performance

Shares of MXF opened at $21.64 on Friday. The company’s fifty day moving average is $21.80 and its 200-day moving average is $21.51. Mexico Fund, Inc. has a 12 month low of $16.57 and a 12 month high of $23.00.

Mexico Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Wednesday, July 22nd.

Institutional Trading of Mexico Fund

A number of hedge funds have recently modified their holdings of MXF. Farther Finance Advisors LLC lifted its position in Mexico Fund by 775.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock worth $27,000 after purchasing an additional 1,194 shares during the period. Blue Bell Private Wealth Management LLC increased its holdings in Mexico Fund by 109.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after buying an additional 2,735 shares during the period. Alpine Global Management LLC acquired a new position in shares of Mexico Fund in the 3rd quarter valued at $265,000. Calamos Advisors LLC raised its stake in shares of Mexico Fund by 32.1% in the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after buying an additional 4,563 shares in the last quarter. Finally, Scotia Capital Inc. lifted 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 acquiring an additional 14,241 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.