Mexico Fund (NYSE:MXF) Stock: Insider Saba Capital Management, L.P. Purchases 4,365 Shares

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 4,365 shares of Mexico Fund stock in a transaction on Monday, November 9th. The shares were purchased at an average cost of $21.06 per share, with a total value of $91,926.90. Following the completion of the purchase, the insider directly owned 2,540,570 shares of the company’s stock, valued at approximately $53,504,404.20. This represents a 0.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, November 6th, Saba Capital Management, L.P. bought 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. bought 24,115 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.72 per share, for a total transaction of $499,662.80.
• On Wednesday, November 4th, Saba Capital Management, L.P. bought 15,011 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.95 per share, for a total transaction 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 price of $20.54 per share, for a total transaction of $283,534.16.
• On Monday, November 2nd, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were purchased at an average price 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 stock was purchased 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, with a total value of $480,649.11.
• On Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,121 shares of Mexico Fund stock. The stock was purchased 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 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. acquired 16,035 shares of Mexico Fund stock. The shares were purchased at an average price of $20.42 per share, for a total transaction of $327,434.70.

Mexico Fund Trading Up 1.0%

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

Mexico Fund Announces Dividend

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

Key Stories Impacting Mexico Fund

Here are a few of the latest stories 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 large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in Mexico Fund during the 2nd quarter worth about $2,266,000. North Ground Capital purchased a new position in Mexico Fund during the 2nd quarter valued at about $2,981,931. Saba Capital Management L.P. increased its holdings in shares of Mexico Fund by 4.3% in the 1st quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock valued at $36,927,000 after purchasing an additional 73,032 shares during the period. Almitas Capital LLC acquired a new position in shares of Mexico Fund in the 2nd quarter valued at about $3,736,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Mexico Fund by 2.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock valued at $20,548,000 after purchasing an additional 27,983 shares during the period.

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.