Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Buys 32,102 Shares

by · The Cerbat Gem

Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 32,102 shares of the stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $21.61 per share, with a total value of $693,724.22. Following the purchase, the insider directly owned 2,165,481 shares in the company, valued at $46,796,044.41. This represents a 1.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large 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 Friday, June 5th, Saba Capital Management, L.P. acquired 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 Wednesday, June 3rd, Saba Capital Management, L.P. acquired 31,949 shares of Mexico Fund stock. The stock was bought 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. purchased 9,633 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.24 per share, with a total value of $214,237.92.
  • On Monday, June 1st, Saba Capital Management, L.P. purchased 708 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.90 per share, with a total value of $15,505.20.
  • On Friday, May 29th, Saba Capital Management, L.P. purchased 18,466 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.17 per share, with a total value of $409,391.22.
  • On Thursday, May 28th, Saba Capital Management, L.P. purchased 6,700 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.16 per share, with a total value of $148,472.00.
  • On Wednesday, May 27th, Saba Capital Management, L.P. purchased 44,608 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.27 per share, with a total value of $993,420.16.
  • On Tuesday, May 26th, Saba Capital Management, L.P. purchased 14,402 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.99 per share, with a total value of $316,699.98.
  • On Thursday, May 21st, Saba Capital Management, L.P. purchased 7,166 shares of Mexico Fund stock. The stock was acquired 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. purchased 4,610 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.68 per share, with a total value of $99,944.80.

Mexico Fund Stock Performance

NYSE MXF traded down $0.03 during mid-day trading on Monday, hitting $21.37. The company’s stock had a trading volume of 5,997 shares, compared to its average volume of 64,886. The company’s 50 day simple moving average is $21.67 and its 200 day simple moving average is $21.13. Mexico Fund, Inc. has a twelve month low of $16.43 and a twelve month high of $23.00.

Mexico Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $1.40 annualized dividend and a yield of 6.6%.

Institutional Trading of Mexico Fund

Hedge funds have recently bought and sold shares of the business. Saba Capital Management L.P. boosted its holdings in Mexico Fund by 32.4% during the 4th quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company’s stock worth $34,063,000 after acquiring an additional 413,606 shares during the last quarter. Marex Group plc purchased a new position in Mexico Fund during the 4th quarter worth $1,926,000. North Ground Capital boosted its holdings in Mexico Fund by 309.2% during the 4th quarter. North Ground Capital now owns 126,312 shares of the investment management company’s stock worth $2,544,000 after acquiring an additional 95,443 shares during the last quarter. Altium Capital Management LLC boosted its holdings in Mexico Fund by 165.5% during the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock worth $2,683,000 after acquiring an additional 79,898 shares during the last quarter. Finally, Alpine Global Management LLC boosted its holdings in Mexico Fund by 356.7% during the 4th quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company’s stock worth $1,237,000 after acquiring an additional 47,979 shares during the last quarter.

About Mexico Fund

(Get Free Report)

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.

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