Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases $89,742.51 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. acquired 4,037 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were acquired at an average cost of $22.23 per share, with a total value of $89,742.51. Following the completion of the transaction, the insider directly owned 2,238,722 shares in the company, valued at approximately $49,766,790.06. The trade was a 0.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% 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, June 18th, Saba Capital Management, L.P. bought 1,261 shares of Mexico Fund stock. The shares were bought at an average cost of $22.19 per share, with a total value of $27,981.59.
• On Friday, June 12th, Saba Capital Management, L.P. purchased 29,500 shares of Mexico Fund stock. The shares were bought at an average price of $22.30 per share, with a total value of $657,850.00.
• On Thursday, June 11th, Saba Capital Management, L.P. acquired 5,117 shares of Mexico Fund stock. The stock was bought at an average price of $21.60 per share, for a total transaction of $110,527.20.
• On Wednesday, June 10th, Saba Capital Management, L.P. acquired 11,081 shares of Mexico Fund stock. The stock was bought at an average price of $21.39 per share, for a total transaction of $237,022.59.
• On Tuesday, June 9th, Saba Capital Management, L.P. acquired 3,600 shares of Mexico Fund stock. The shares were bought at an average cost of $21.14 per share, with a total value of $76,104.00.
• On Friday, June 5th, Saba Capital Management, L.P. bought 19,906 shares of Mexico Fund stock. The stock was bought at an average price of $21.64 per share, with a total value of $430,765.84.
• On Thursday, June 4th, Saba Capital Management, L.P. bought 32,102 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.61 per share, for a total transaction of $693,724.22.
• On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The shares were purchased 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. bought 9,633 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.24 per share, for a total transaction of $214,237.92.
• On Monday, June 1st, Saba Capital Management, L.P. bought 708 shares of Mexico Fund stock. The shares were purchased at an average price of $21.90 per share, with a total value of $15,505.20.

Mexico Fund Stock Performance

NYSE MXF traded down $0.45 during trading on Monday, hitting $21.80. The stock had a trading volume of 11,609 shares, compared to its average volume of 62,716. The firm has a 50 day moving average price of $21.82 and a 200 day moving average price of $21.32. Mexico Fund, Inc. has a twelve month low of $16.47 and a twelve month high of $23.00.

Mexico Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Wednesday, July 22nd.

Hedge Funds Weigh In On Mexico Fund

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position 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 worth $27,000 after acquiring an additional 1,194 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in Mexico Fund by 109.4% in 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 purchasing an additional 2,735 shares during the period. Alpine Global Management LLC purchased a new position in Mexico Fund in the third quarter valued at $265,000. Calamos Advisors LLC grew its stake 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 worth $378,000 after purchasing an additional 4,563 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings 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 worth $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.