Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Purchases 18,250 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 18,250 shares of the firm’s stock in a transaction on Friday, November 6th. The shares were acquired at an average price of $20.75 per share, for a total transaction of $378,687.50. Following the transaction, the insider owned 2,536,205 shares in the company, valued at approximately $52,626,253.75. This represents a 0.72% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large 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 Monday, November 9th, Saba Capital Management, L.P. purchased 4,365 shares of Mexico Fund stock. The stock was bought at an average cost of $21.06 per share, with a total value of $91,926.90.
• On Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The stock was bought at an average price of $20.72 per share, for a total transaction of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. purchased 15,011 shares of Mexico Fund stock. The shares were purchased at an average price of $20.95 per share, for a total transaction of $314,480.45.
• On Tuesday, November 3rd, Saba Capital Management, L.P. bought 13,804 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.54 per share, with a total value of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. bought 200 shares of Mexico Fund stock. The stock was purchased at an average price of $20.51 per share, with a total value of $4,102.00.
• On Friday, October 30th, Saba Capital Management, L.P. purchased 15,143 shares of Mexico Fund stock. The stock was bought at an average cost of $20.25 per share, with a total value of $306,645.75.
• On Thursday, October 29th, Saba Capital Management, L.P. bought 23,901 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.11 per share, for a total transaction of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. bought 1,121 shares of Mexico Fund stock. The shares were bought at an average cost of $20.13 per share, with a total value of $22,565.73.
• On Thursday, October 22nd, Saba Capital Management, L.P. acquired 2,000 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.14 per share, with a total value of $40,280.00.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 16,035 shares of Mexico Fund stock. The stock was acquired at an average price of $20.42 per share, for a total transaction of $327,434.70.

Mexico Fund Stock Performance

Shares of MXF opened at $21.31 on Thursday. The firm’s 50-day simple moving average is $20.69 and its two-hundred day simple moving average is $21.42. Mexico Fund, Inc. has a fifty-two week low of $18.62 and a fifty-two week high of $23.00.

Mexico Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MXF. Calamos Advisors LLC lifted its position in Mexico Fund by 6.7% in the third quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company’s stock worth $343,000 after buying an additional 1,050 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mexico Fund during the 2nd quarter worth approximately $33,000. Uhlmann Price Securities LLC boosted its stake in shares of Mexico Fund by 2.3% during the third quarter. Uhlmann Price Securities LLC now owns 113,006 shares of the investment management company’s stock valued at $2,304,000 after purchasing an additional 2,544 shares during the period. Beverly Hills Private Wealth LLC boosted its position in Mexico Fund by 13.2% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 41,537 shares of the investment management company’s stock valued at $847,000 after buying an additional 4,855 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Mexico Fund by 25.8% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company’s stock worth $774,000 after purchasing an additional 7,774 shares during the period.

Latest Mexico Fund News

These are some of the MXF news items that stood out recently:

• Positive Sentiment: Saba disclosed a series of MXF purchases from October 14 through November 9, including 4,365 shares bought most recently at an average $21.06. Its reported holdings reached 2,540,570 shares. Sustained buying by a major shareholder can signal confidence in the fund and provide a supportive sentiment cue, though it does not guarantee future performance. Saba Capital purchase report

About Mexico Fund

The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.