Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys 14,402 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 14,402 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of $21.99 per share, with a total value of $316,699.98. Following the purchase, the insider directly owned 2,021,315 shares of the company’s stock, valued at $44,448,716.85. The trade was a 0.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Major 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 Wednesday, May 27th, Saba Capital Management, L.P. bought 44,608 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.27 per share, with a total value of $993,420.16.
• On Thursday, May 21st, Saba Capital Management, L.P. bought 7,166 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.67 per share, with a total value of $155,287.22.
• On Wednesday, May 20th, Saba Capital Management, L.P. bought 4,610 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.68 per share, with a total value of $99,944.80.
• On Tuesday, May 19th, Saba Capital Management, L.P. bought 22,914 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.58 per share, with a total value of $494,484.12.
• On Monday, May 18th, Saba Capital Management, L.P. bought 18,586 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.59 per share, with a total value of $401,271.74.
• On Friday, May 15th, Saba Capital Management, L.P. bought 8,334 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.00 per share, with a total value of $183,348.00.
• On Thursday, May 14th, Saba Capital Management, L.P. bought 33,108 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.00 per share, with a total value of $728,376.00.
• On Wednesday, May 13th, Saba Capital Management, L.P. bought 15,148 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.13 per share, with a total value of $335,225.24.
• On Tuesday, May 12th, Saba Capital Management, L.P. bought 9,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.01 per share, with a total value of $198,090.00.
• On Thursday, May 7th, Saba Capital Management, L.P. bought 3,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.82 per share, with a total value of $65,460.00.

Mexico Fund Trading Down 0.4%

NYSE:MXF traded down $0.09 during trading hours on Thursday, reaching $22.22. The company had a trading volume of 18,359 shares, compared to its average volume of 66,548. The business’s 50-day simple moving average is $21.42 and its two-hundred day simple moving average is $20.99. Mexico Fund, Inc. has a twelve month low of $16.43 and a twelve month high of $23.00.

Mexico Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Wednesday, April 22nd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings 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 valued at $27,000 after buying an additional 1,194 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in shares of Mexico Fund by 109.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after buying an additional 2,735 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of Mexico Fund during the third quarter valued at about $265,000. Calamos Advisors LLC grew its holdings in shares of Mexico Fund by 32.1% during the fourth quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after buying an additional 4,563 shares during the last quarter. Finally, Scotia Capital Inc. grew its holdings in shares of Mexico Fund by 127.8% during the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after buying an additional 14,241 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.