Alpine Global Management LLC Raises Position in Mexico Fund, Inc. (The) $MXF

Alpine Global Management LLC grew its stake in Mexico Fund, Inc. (The) (NYSE:MXF) by 356.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,431 shares of the investment management company’s stock after purchasing an additional 47,979 shares during the period. Alpine Global Management LLC’s holdings in Mexico Fund were worth $1,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Saba Capital Management L.P. boosted its stake in shares of Mexico Fund by 32.4% during the 4th quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company’s stock worth $34,063,000 after purchasing an additional 413,606 shares during the period. Marex Group plc purchased a new position in shares of Mexico Fund during the fourth quarter valued at approximately $1,926,000. North Ground Capital boosted its position in shares of Mexico Fund by 309.2% during the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock valued at $2,544,000 after buying an additional 95,443 shares during the period. Altium Capital Management LLC bought a new position in shares of Mexico Fund during the fourth quarter valued at approximately $972,000. Finally, Sit Investment Associates Inc. grew its stake in shares of Mexico Fund by 144.8% during the fourth quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company’s stock valued at $1,000,000 after buying an additional 29,377 shares during the last quarter.

Insider Activity at Mexico Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 100,000 shares of Mexico Fund stock in a transaction that occurred on Wednesday, April 22nd. The shares were bought at an average price of $21.83 per share, with a total value of $2,183,000.00. Following the purchase, the insider directly owned 1,884,830 shares of the company’s stock, valued at approximately $41,145,838.90. This represents a 5.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 470,353 shares of company stock valued at $10,300,952 in the last quarter. Corporate insiders own 2.69% of the company’s stock.

Mexico Fund Trading Down 0.3%

Shares of NYSE MXF opened at $22.19 on Friday. Mexico Fund, Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $23.00. The business’s 50 day moving average price is $21.82 and its 200-day moving average price is $21.30.

Mexico Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be issued a $0.35 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.3%.

Mexico Fund 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.