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

Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 15,143 shares of the stock in a transaction dated Friday, October 30th. The stock was acquired 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 directly owned 2,464,825 shares of the company’s stock, valued at approximately $49,912,706.25. The trade was a 0.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 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 Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The shares were bought at an average cost of $20.72 per share, with a total value of $499,662.80.
  • On Wednesday, November 4th, Saba Capital Management, L.P. acquired 15,011 shares of Mexico Fund stock. The stock was bought at an average price of $20.95 per share, for a total transaction of $314,480.45.
  • On Tuesday, November 3rd, Saba Capital Management, L.P. acquired 13,804 shares of Mexico Fund stock. The shares were bought at an average price of $20.54 per share, with a total value 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 cost 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 shares were purchased at an average cost of $20.11 per share, for a total transaction of $480,649.11.
  • On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The stock was acquired at an average price of $20.13 per share, with a total value of $22,565.73.
  • On Thursday, October 22nd, Saba Capital Management, L.P. purchased 2,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.14 per share, for a total transaction of $40,280.00.
  • On Wednesday, October 21st, Saba Capital Management, L.P. acquired 16,035 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.42 per share, with a total value of $327,434.70.
  • On Wednesday, October 14th, Saba Capital Management, L.P. bought 12,791 shares of Mexico Fund stock. The stock was acquired at an average price of $19.88 per share, with a total value of $254,285.08.
  • On Monday, October 5th, Saba Capital Management, L.P. bought 25,900 shares of Mexico Fund stock. The stock was acquired at an average price of $20.09 per share, with a total value of $520,331.00.

Mexico Fund Stock Performance

NYSE MXF traded up $0.02 during trading hours on Tuesday, hitting $21.06. 7,704 shares of the company’s stock were exchanged, compared to its average volume of 50,814. The business’s 50 day moving average is $20.71 and its 200-day moving average is $21.42. Mexico Fund, Inc. has a 12-month low of $18.62 and a 12-month high of $23.00.

Mexico Fund Dividend Announcement

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

Institutional Investors Weigh In On Mexico Fund

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

About Mexico Fund

(Get Free Report)

The Mexico Fund, Inc. (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico’s financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.

See Also

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

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