Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys 2,871 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 2,871 shares of the stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $19.83 per share, with a total value of $56,931.93. Following the completion of the acquisition, the insider owned 1,747,033 shares of the company’s stock, valued at approximately $34,643,664.39. This represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large 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 Wednesday, March 18th, Saba Capital Management, L.P. acquired 5,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.38 per share, for a total transaction of $101,900.00.
• On Friday, March 13th, Saba Capital Management, L.P. bought 2,600 shares of Mexico Fund stock. The shares were purchased at an average price of $20.21 per share, for a total transaction of $52,546.00.
• On Thursday, March 12th, Saba Capital Management, L.P. bought 456 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.35 per share, with a total value of $9,279.60.
• On Tuesday, March 10th, Saba Capital Management, L.P. purchased 1,005 shares of Mexico Fund stock. The stock was acquired at an average price of $20.94 per share, with a total value of $21,044.70.
• On Thursday, March 5th, Saba Capital Management, L.P. purchased 4,480 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.34 per share, for a total transaction of $95,603.20.
• On Friday, February 13th, Saba Capital Management, L.P. acquired 32,126 shares of Mexico Fund stock. The shares were acquired at an average price of $22.69 per share, for a total transaction of $728,938.94.
• On Thursday, January 29th, Saba Capital Management, L.P. acquired 3,115 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.97 per share, with a total value of $68,436.55.
• On Monday, January 26th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The stock was acquired at an average price of $21.50 per share, with a total value of $21,500.00.
• On Wednesday, January 21st, Saba Capital Management, L.P. purchased 550 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.29 per share, for a total transaction of $11,709.50.
• On Monday, January 12th, Saba Capital Management, L.P. purchased 2,520 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.45 per share, for a total transaction of $51,534.00.

Mexico Fund Stock Up 1.8%

MXF traded up $0.35 during midday trading on Monday, hitting $19.96. The company’s stock had a trading volume of 30,817 shares, compared to its average volume of 74,168. Mexico Fund, Inc. has a 52-week low of $13.10 and a 52-week high of $23.00. The firm has a 50-day moving average price of $21.62 and a two-hundred day moving average price of $20.18.

Mexico Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Wednesday, April 22nd.

Hedge Funds Weigh In On Mexico Fund

A number of hedge funds have recently made changes to their positions in the stock. Saba Capital Management L.P. grew 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 valued at $34,063,000 after buying an additional 413,606 shares during the period. Marex Group plc acquired a new position in Mexico Fund in the fourth quarter valued at $1,926,000. North Ground Capital boosted its holdings in Mexico Fund by 309.2% in the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock valued at $2,544,000 after acquiring an additional 95,443 shares during the last quarter. Altium Capital Management LLC purchased a new stake in Mexico Fund during the fourth quarter valued at about $972,000. Finally, Alpine Global Management LLC grew its position in Mexico Fund by 356.7% during the fourth quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock valued at $1,237,000 after acquiring an additional 47,979 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.