Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Acquires 15,143 Shares

Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. bought 15,143 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were purchased at an average price of $20.25 per share, for a total transaction of $306,645.75. Following the completion of the transaction, the insider owned 2,464,825 shares of the company’s stock, valued at $49,912,706.25. This represents a 0.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 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 Monday, November 9th, Saba Capital Management, L.P. bought 4,365 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.06 per share, for a total transaction of $91,926.90.
  • On Friday, November 6th, Saba Capital Management, L.P. purchased 18,250 shares of Mexico Fund stock. The stock was purchased at an average price of $20.75 per share, with a total value of $378,687.50.
  • On Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The stock was purchased at an average price of $20.72 per share, with a total value 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 cost of $20.95 per share, with a total value of $314,480.45.
  • On Tuesday, November 3rd, Saba Capital Management, L.P. purchased 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. acquired 200 shares of Mexico Fund stock. The stock was acquired at an average price of $20.51 per share, for a total transaction of $4,102.00.
  • On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The stock was acquired 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 stock was acquired 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 shares were acquired at an average price 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 shares were acquired at an average price of $20.42 per share, with a total value of $327,434.70.

Mexico Fund Stock Performance

Shares of MXF opened at $21.31 on Thursday. The company has a 50-day moving average of $20.69 and a two-hundred day moving average of $21.42. Mexico Fund, Inc. has a 12-month low of $18.62 and a 12-month 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 given 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%.

Latest Mexico Fund News

Here’s some of the latest news about MXF:

  • 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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MXF. Almitas Capital LLC purchased a new stake in Mexico Fund in the 2nd quarter valued at approximately $3,736,000. North Ground Capital purchased a new position in Mexico Fund during the second quarter worth $2,981,931. Public Employees Retirement System of Ohio purchased a new position in Mexico Fund during the second quarter worth $2,266,000. Saba Capital Management L.P. raised its holdings in shares of Mexico Fund by 4.3% in the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock worth $36,927,000 after acquiring an additional 73,032 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Mexico Fund in the second quarter worth $875,000.

Mexico Fund Company Profile

(Get Free Report)

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.

Further Reading

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

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