Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires $27,981.59 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 1,261 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average price of $22.19 per share, with a total value of $27,981.59. Following the acquisition, the insider owned 2,239,983 shares of the company’s stock, valued at $49,705,222.77. This represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, June 17th, Saba Capital Management, L.P. purchased 4,037 shares of Mexico Fund stock. The stock was bought 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. acquired 29,500 shares of Mexico Fund stock. The shares were bought 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. acquired 5,117 shares of Mexico Fund stock. The shares were bought at an average cost of $21.60 per share, for a total transaction of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. bought 11,081 shares of Mexico Fund stock. The stock was bought at an average cost of $21.39 per share, with a total value of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. bought 3,600 shares of Mexico Fund stock. The shares were bought at an average cost of $21.14 per share, for a total transaction of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. bought 19,906 shares of Mexico Fund stock. The shares were bought at an average cost of $21.64 per share, for a total transaction of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. purchased 32,102 shares of Mexico Fund stock. The shares were bought at an average price of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The stock was bought at an average cost of $22.16 per share, with a total value of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. acquired 9,633 shares of Mexico Fund stock. The stock was bought at an average price of $22.24 per share, with a total value of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. acquired 708 shares of Mexico Fund stock. The stock was bought at an average price of $21.90 per share, with a total value of $15,505.20.

Mexico Fund Stock Down 1.4%

Mexico Fund stock opened at $21.34 on Thursday. Mexico Fund, Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $23.00. The stock’s 50 day simple moving average is $21.79 and its two-hundred day simple moving average is $21.36.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Wednesday, July 22nd.

Institutional Investors Weigh In On Mexico Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Saba Capital Management L.P. lifted its position in Mexico Fund by 4.3% during the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock valued at $36,927,000 after buying an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Mexico Fund by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after buying an additional 27,983 shares during the period. Altium Capital Management LLC increased its stake in shares of Mexico Fund by 165.5% in the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after acquiring an additional 79,898 shares in the last quarter. North Ground Capital increased 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 worth $2,544,000 after acquiring an additional 95,443 shares in the last quarter. Finally, Uhlmann Price Securities LLC lifted its position in Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company’s stock valued at $2,243,000 after acquiring an additional 2,013 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.