Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys $430,765.84 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 19,906 shares of the company’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $21.64 per share, with a total value of $430,765.84. Following the purchase, the insider directly owned 2,185,387 shares in the company, valued at approximately $47,291,774.68. This represents a 0.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Thursday, June 4th, Saba Capital Management, L.P. acquired 32,102 shares of Mexico Fund stock. The stock was acquired at an average price of $21.61 per share, with a total value of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. acquired 31,949 shares of Mexico Fund stock. The stock was acquired at an average price of $22.16 per share, with a total value of $707,989.84.
• On Tuesday, June 2nd, Saba Capital Management, L.P. acquired 9,633 shares of Mexico Fund stock. The stock was acquired at an average price of $22.24 per share, with a total value of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. acquired 708 shares of Mexico Fund stock. The stock was acquired at an average price of $21.90 per share, with a total value of $15,505.20.
• On Friday, May 29th, Saba Capital Management, L.P. bought 18,466 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.17 per share, for a total transaction of $409,391.22.
• On Thursday, May 28th, Saba Capital Management, L.P. bought 6,700 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.16 per share, for a total transaction of $148,472.00.
• On Wednesday, May 27th, Saba Capital Management, L.P. bought 44,608 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.27 per share, for a total transaction of $993,420.16.
• On Tuesday, May 26th, Saba Capital Management, L.P. bought 14,402 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.99 per share, for a total transaction of $316,699.98.
• On Thursday, May 21st, Saba Capital Management, L.P. bought 7,166 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.67 per share, for a total transaction of $155,287.22.
• On Wednesday, May 20th, Saba Capital Management, L.P. bought 4,610 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.68 per share, for a total transaction of $99,944.80.

Mexico Fund Price Performance

MXF stock opened at $21.03 on Thursday. Mexico Fund, Inc. has a 12 month low of $16.43 and a 12 month high of $23.00. The company’s 50-day moving average price is $21.71 and its two-hundred day moving average price is $21.18.

Mexico Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Wednesday, April 22nd.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its holdings in Mexico Fund by 775.3% in the 4th 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 increased its position in Mexico Fund by 109.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 2,735 shares during the period. Alpine Global Management LLC acquired a new stake in Mexico Fund during the 3rd quarter valued at approximately $265,000. Calamos Advisors LLC increased its position in Mexico Fund by 32.1% during the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 4,563 shares during the period. Finally, Scotia Capital Inc. increased its position in Mexico Fund by 127.8% during the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after purchasing an additional 14,241 shares during the period.

About Mexico Fund

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.