Mexico Fund (NYSE:MXF) Major Shareholder Buys $237,022.59 in Stock

Mexico Fund, Inc. (The) (NYSE:MXFGet Free Report) major shareholder Saba Capital Management, L.P. purchased 11,081 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $21.39 per share, with a total value of $237,022.59. Following the transaction, the insider directly owned 2,200,068 shares in the company, valued at $47,059,454.52. This trade represents a 0.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Tuesday, June 9th, Saba Capital Management, L.P. purchased 3,600 shares of Mexico Fund stock. The stock was bought at an average price of $21.14 per share, with a total value of $76,104.00.
  • On Friday, June 5th, Saba Capital Management, L.P. acquired 19,906 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.64 per share, with a total value of $430,765.84.
  • On Thursday, June 4th, Saba Capital Management, L.P. acquired 32,102 shares of Mexico Fund stock. The stock was acquired at an average cost 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 cost 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 cost 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 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 shares were purchased 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 shares were purchased 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 shares were purchased 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 shares were purchased at an average cost of $21.99 per share, with a total value of $316,699.98.

Mexico Fund Stock Up 2.2%

MXF opened at $22.28 on Friday. Mexico Fund, Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $23.00. The business has a 50-day moving average of $21.75 and a 200-day moving average of $21.20.

Mexico Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.3%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MXF. Uhlmann Price Securities LLC raised its stake in shares of Mexico Fund by 2.5% in the 3rd quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company’s stock valued at $2,050,000 after acquiring an additional 2,583 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of Mexico Fund by 127.8% in the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock valued at $500,000 after acquiring an additional 14,241 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of Mexico Fund by 21.7% in the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock valued at $1,960,000 after acquiring an additional 17,747 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of Mexico Fund in the 3rd quarter valued at approximately $265,000. Finally, Farther Finance Advisors LLC grew 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.

Mexico Fund Company Profile

(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.

Further Reading

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

Receive News & Ratings for Mexico Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mexico Fund and related companies with MarketBeat.com's FREE daily email newsletter.