Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires $17,297.16 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 834 shares of Mexico Fund stock in a transaction on Friday, September 25th. The shares were purchased at an average price of $20.74 per share, for a total transaction of $17,297.16. Following the completion of the purchase, the insider directly owned 2,343,069 shares of the company’s stock, valued at approximately $48,595,251.06. This represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 Monday, September 28th, Saba Capital Management, L.P. bought 4,133 shares of Mexico Fund stock. The stock was purchased at an average price of $20.74 per share, with a total value of $85,718.42.
• On Thursday, September 24th, Saba Capital Management, L.P. purchased 1,049 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.69 per share, with a total value of $21,703.81.
• On Wednesday, September 23rd, Saba Capital Management, L.P. purchased 28,464 shares of Mexico Fund stock. The shares were purchased at an average price of $21.02 per share, for a total transaction of $598,313.28.
• On Tuesday, September 22nd, Saba Capital Management, L.P. purchased 110 shares of Mexico Fund stock. The shares were purchased at an average price of $20.90 per share, for a total transaction of $2,299.00.
• On Monday, September 21st, Saba Capital Management, L.P. acquired 2,034 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.03 per share, for a total transaction of $42,775.02.
• On Wednesday, September 16th, Saba Capital Management, L.P. bought 6,403 shares of Mexico Fund stock. The shares were acquired at an average price of $20.63 per share, with a total value of $132,093.89.
• On Tuesday, September 15th, Saba Capital Management, L.P. bought 459 shares of Mexico Fund stock. The shares were acquired at an average price of $20.89 per share, with a total value of $9,588.51.
• On Thursday, August 13th, Saba Capital Management, L.P. acquired 2,952 shares of Mexico Fund stock. The shares were acquired at an average price of $21.41 per share, with a total value of $63,202.32.
• On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.19 per share, for a total transaction of $207,742.78.
• On Wednesday, July 29th, Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock. The stock was acquired at an average price of $21.34 per share, for a total transaction of $65,663.18.

Mexico Fund Price Performance

Shares of NYSE MXF opened at $20.39 on Thursday. Mexico Fund, Inc. has a 12 month low of $18.30 and a 12 month high of $23.00. The stock has a 50-day moving average price of $21.44 and a two-hundred day moving average price of $21.51.

Mexico Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 21st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Wednesday, October 21st.

Institutional Trading of Mexico Fund

A number of hedge funds have recently added to or reduced their stakes in MXF. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mexico Fund during the second quarter worth $33,000. Susquehanna International Group LLP bought a new position in shares of Mexico Fund in the 2nd quarter valued at $215,000. Evolve Private Wealth LLC bought a new position in shares of Mexico Fund in the 2nd quarter valued at $278,000. Calamos Advisors LLC boosted its holdings in shares of Mexico Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock valued at $446,000 after acquiring an additional 2,535 shares in the last quarter. Finally, Hudson Portfolio Management LLC acquired a new stake in shares of Mexico Fund during the 2nd quarter valued at $784,000.

Mexico Fund Company Profile

Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.

The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico’s economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.

Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.