Saba Capital Management, L.P. Purchases 29,500 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. purchased 29,500 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $22.30 per share, for a total transaction of $657,850.00. Following the completion of the acquisition, the insider owned 2,234,685 shares of the company’s stock, valued at approximately $49,833,475.50. This represents a 1.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 11th, Saba Capital Management, L.P. purchased 5,117 shares of Mexico Fund stock. The stock was purchased 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. purchased 11,081 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.39 per share, for a total transaction of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. bought 3,600 shares of Mexico Fund stock. The stock was 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 stock was 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. bought 32,102 shares of Mexico Fund stock. The stock was bought at an average cost of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. bought 31,949 shares of Mexico Fund stock. The stock was bought at an average cost of $22.16 per share, for a total transaction of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. bought 9,633 shares of Mexico Fund stock. The stock was bought at an average cost of $22.24 per share, for a total transaction of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. bought 708 shares of Mexico Fund stock. The stock was bought at an average cost of $21.90 per share, for a total transaction of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. bought 18,466 shares of Mexico Fund stock. The stock was bought at an average cost of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. bought 6,700 shares of Mexico Fund stock. The stock was bought at an average cost of $22.16 per share, for a total transaction of $148,472.00.

Mexico Fund Stock Up 0.0%

Shares of MXF opened at $22.31 on Wednesday. The firm’s 50 day simple moving average is $21.79 and its 200 day simple moving average is $21.26. Mexico Fund, Inc. has a 1-year low of $16.43 and a 1-year high of $23.00.

Mexico Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors 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 yield of 6.3%. The ex-dividend date of this dividend is Wednesday, July 22nd.

Institutional Investors Weigh In On Mexico Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altium Capital Management LLC purchased a new stake in Mexico Fund in the fourth quarter valued at approximately $972,000. Farther Finance Advisors LLC grew its position 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 valued at $27,000 after acquiring an additional 1,194 shares during the last quarter. Calamos Advisors LLC grew its position 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 valued at $378,000 after acquiring an additional 4,563 shares during the last quarter. Uhlmann Price Securities LLC grew its position in Mexico Fund by 1.0% during the fourth quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock valued at $2,118,000 after acquiring an additional 1,074 shares during the last quarter. Finally, Alpine Global Management LLC bought a new position in Mexico Fund during the third quarter valued at approximately $265,000.

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.