Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases 12,791 Shares of Company Stock

Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. bought 12,791 shares of the firm’s stock in a transaction on Wednesday, October 14th. The shares were acquired at an average cost of $19.88 per share, with a total value of $254,285.08. Following the purchase, the insider directly owned 2,406,625 shares of the company’s stock, valued at approximately $47,843,705. This represents a 0.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major 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 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. acquired 15,011 shares of Mexico Fund stock. The shares were bought at an average cost of $20.95 per share, with a total value of $314,480.45.
  • On Tuesday, November 3rd, Saba Capital Management, L.P. acquired 13,804 shares of Mexico Fund stock. The shares were bought at an average price 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 bought at an average cost of $20.51 per share, for a total transaction of $4,102.00.
  • On Friday, October 30th, Saba Capital Management, L.P. purchased 15,143 shares of Mexico Fund stock. The shares were bought at an average price of $20.25 per share, with a total value of $306,645.75.
  • On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The stock was purchased at an average price of $20.11 per share, for a total transaction of $480,649.11.
  • On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,121 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.13 per share, for a total transaction of $22,565.73.
  • On Thursday, October 22nd, Saba Capital Management, L.P. bought 2,000 shares of Mexico Fund stock. The stock was purchased 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 purchased at an average cost of $20.42 per share, with a total value of $327,434.70.
  • On Monday, October 5th, Saba Capital Management, L.P. bought 25,900 shares of Mexico Fund stock. The stock was purchased at an average price of $20.09 per share, for a total transaction of $520,331.00.

Mexico Fund Trading Up 0.1%

Shares of NYSE:MXF traded up $0.02 during trading on Tuesday, reaching $21.06. 7,704 shares of the stock traded hands, compared to its average volume of 50,814. The stock has a 50-day moving average of $20.71 and a two-hundred day moving average of $21.42. Mexico Fund, Inc. has a 52-week low of $18.62 and a 52-week high of $23.00.

Mexico Fund Announces Dividend

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

Institutional Investors Weigh In On Mexico Fund

Several institutional investors have recently modified their holdings of MXF. Northwestern Mutual Wealth Management Co. purchased a new position in Mexico Fund in the 2nd quarter worth about $33,000. Susquehanna International Group LLP purchased a new stake in shares of Mexico Fund during the 2nd quarter valued at about $215,000. Evolve Private Wealth LLC purchased a new stake in shares of Mexico Fund during the 2nd quarter valued at about $278,000. Calamos Advisors LLC grew its stake in shares of 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 acquiring an additional 1,050 shares during the period. Finally, Hudson Portfolio Management LLC purchased a new position in shares of Mexico Fund during the second quarter valued at approximately $784,000.

Mexico Fund Company Profile

(Get Free Report)

The Mexico Fund, Inc. (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.

Further Reading

Insider Buying and Selling by Quarter for Mexico Fund (NYSE:MXF)

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