Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases $707,989.84 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 31,949 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $22.16 per share, with a total value of $707,989.84. Following the transaction, the insider owned 2,133,379 shares in the company, valued at approximately $47,275,678.64. The trade was a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 Tuesday, June 2nd, Saba Capital Management, L.P. acquired 9,633 shares of Mexico Fund stock. The shares were acquired at an average cost 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 shares were acquired at an average cost of $21.90 per share, with a total value of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. acquired 18,466 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.17 per share, with a total value of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. acquired 6,700 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.16 per share, with a total value of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. acquired 44,608 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.27 per share, with a total value of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. acquired 14,402 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.99 per share, with a total value of $316,699.98.
• On Thursday, May 21st, Saba Capital Management, L.P. bought 7,166 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.67 per share, with a total value of $155,287.22.
• On Wednesday, May 20th, Saba Capital Management, L.P. bought 4,610 shares of Mexico Fund stock. The stock was purchased at an average price of $21.68 per share, with a total value of $99,944.80.
• On Tuesday, May 19th, Saba Capital Management, L.P. bought 22,914 shares of Mexico Fund stock. The stock was purchased at an average price of $21.58 per share, with a total value of $494,484.12.
• On Monday, May 18th, Saba Capital Management, L.P. bought 18,586 shares of Mexico Fund stock. The stock was purchased at an average price of $21.59 per share, with a total value of $401,271.74.

Mexico Fund Stock Performance

NYSE MXF opened at $21.44 on Friday. Mexico Fund, Inc. has a 52 week low of $16.43 and a 52 week high of $23.00. The company has a 50-day moving average price of $21.67 and a two-hundred day moving average price of $21.11.

Mexico Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MXF. Saba Capital Management L.P. grew its position in Mexico Fund by 32.4% in 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 last quarter. Marex Group plc bought a new position in Mexico Fund in the 4th quarter worth about $1,926,000. North Ground Capital grew its position in 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 purchasing an additional 95,443 shares during the last quarter. Altium Capital Management LLC grew its position in 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 purchasing an additional 79,898 shares during the last quarter. Finally, Alpine Global Management LLC grew its position in Mexico Fund by 356.7% in the 4th quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock worth $1,237,000 after purchasing an additional 47,979 shares during the last quarter.

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.