Saba Capital Management, L.P. Acquires 18,586 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 18,586 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average cost of $21.59 per share, with a total value of $401,271.74. Following the transaction, the insider owned 1,972,223 shares in the company, valued at approximately $42,580,294.57. This represents a 0.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 Friday, May 15th, Saba Capital Management, L.P. bought 8,334 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.00 per share, with a total value of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. bought 33,108 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.00 per share, with a total value of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. bought 15,148 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.13 per share, with a total value of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. bought 9,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.01 per share, with a total value of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. acquired 3,000 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.82 per share, with a total value of $65,460.00.
• On Friday, May 1st, Saba Capital Management, L.P. acquired 217 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.33 per share, with a total value of $4,628.61.
• On Wednesday, April 22nd, Saba Capital Management, L.P. acquired 100,000 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.83 per share, with a total value 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 purchased at an average cost of $21.86 per share, with a total value of $76,619.30.
• On Friday, April 17th, Saba Capital Management, L.P. acquired 179 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.00 per share, with a total value of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. bought 2,200 shares of Mexico Fund stock. The shares were acquired at an average price of $22.17 per share, with a total value of $48,774.00.

Mexico Fund Stock Performance

Shares of Mexico Fund stock traded down $0.10 on Tuesday, hitting $21.54. 47,155 shares of the company’s stock traded hands, compared to its average volume of 67,149. The firm’s 50-day moving average is $21.26 and its 200 day moving average is $20.87. Mexico Fund, Inc. has a 52-week low of $16.22 and a 52-week high of $23.00.

Mexico Fund Announces Dividend

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

Hedge Funds Weigh In On Mexico Fund

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted 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 purchasing an additional 1,194 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted 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 purchasing an additional 2,735 shares during the last quarter. Alpine Global Management LLC bought a new position in Mexico Fund during the third quarter worth $265,000. Calamos Advisors LLC lifted 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 purchasing an additional 4,563 shares during the last quarter. Finally, Scotia Capital Inc. lifted 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 purchasing 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.