Saba Capital Management, L.P. Purchases 5,000 Shares of Mexico Fund (NYSE:MXF) Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 5,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was bought at an average cost of $20.38 per share, for a total transaction of $101,900.00. Following the transaction, the insider directly owned 1,744,162 shares of the company’s stock, valued at $35,546,021.56. The trade was a 0.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, March 13th, Saba Capital Management, L.P. purchased 2,600 shares of Mexico Fund stock. The stock was acquired at an average price of $20.21 per share, with a total value of $52,546.00.
• On Thursday, March 12th, Saba Capital Management, L.P. acquired 456 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.35 per share, for a total transaction of $9,279.60.
• On Tuesday, March 10th, Saba Capital Management, L.P. bought 1,005 shares of Mexico Fund stock. The stock was bought 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. bought 4,480 shares of Mexico Fund stock. The shares were acquired at an average price of $21.34 per share, for a total transaction of $95,603.20.
• On Friday, February 13th, Saba Capital Management, L.P. purchased 32,126 shares of Mexico Fund stock. The stock was bought 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. purchased 3,115 shares of Mexico Fund stock. The shares were purchased at an average price of $21.97 per share, for a total transaction of $68,436.55.
• On Monday, January 26th, Saba Capital Management, L.P. purchased 1,000 shares of Mexico Fund stock. The stock was bought 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 shares were purchased at an average cost of $21.29 per share, with a total value of $11,709.50.
• On Monday, January 12th, Saba Capital Management, L.P. acquired 2,520 shares of Mexico Fund stock. The stock was bought at an average price of $20.45 per share, for a total transaction of $51,534.00.
• On Friday, January 9th, Saba Capital Management, L.P. purchased 10 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.24 per share, for a total transaction of $202.40.

Mexico Fund Stock Down 2.4%

Shares of NYSE MXF traded down $0.49 during trading on Friday, hitting $19.62. 40,696 shares of the company traded hands, compared to its average volume of 74,972. The company has a 50-day moving average price of $21.62 and a 200-day moving average price of $20.16. Mexico Fund, Inc. has a 1 year low of $13.10 and a 1 year high of $23.00.

Mexico Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Wednesday, April 22nd.

Institutional Trading of Mexico Fund

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of 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 worth $27,000 after buying an additional 1,194 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in Mexico Fund by 92.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock valued at $49,000 after purchasing an additional 1,200 shares in the last quarter. Scotia Capital Inc. acquired a new position in Mexico Fund during the second quarter worth about $196,000. Alpine Global Management LLC bought a new stake in shares of Mexico Fund in the 3rd quarter worth approximately $265,000. Finally, Calamos Advisors LLC grew its holdings in shares of Mexico Fund by 21.7% in the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock worth $280,000 after acquiring an additional 2,535 shares during the last quarter.

Mexico Fund Company Profile

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.