Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Acquires $108,681.00 in Stock

Mexico Fund, Inc. (The) (NYSE:MXFGet Free Report) major shareholder Saba Capital Management, L.P. bought 5,100 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were acquired at an average price of $21.31 per share, with a total value of $108,681.00. Following the transaction, the insider owned 2,260,134 shares of the company’s stock, valued at $48,163,455.54. The trade was a 0.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Tuesday, June 23rd, Saba Capital Management, L.P. purchased 15,051 shares of Mexico Fund stock. The stock was acquired at an average price of $21.52 per share, for a total transaction of $323,897.52.
  • On Thursday, June 18th, Saba Capital Management, L.P. acquired 1,261 shares of Mexico Fund stock. The shares were acquired at an average cost of $22.19 per share, with a total value of $27,981.59.
  • On Wednesday, June 17th, Saba Capital Management, L.P. acquired 4,037 shares of Mexico Fund stock. The shares were bought at an average price of $22.23 per share, with a total value of $89,742.51.
  • On Friday, June 12th, Saba Capital Management, L.P. bought 29,500 shares of Mexico Fund stock. The stock was bought at an average cost of $22.30 per share, for a total transaction of $657,850.00.
  • On Thursday, June 11th, Saba Capital Management, L.P. bought 5,117 shares of Mexico Fund stock. The shares were 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. purchased 11,081 shares of Mexico Fund stock. The shares were bought at an average cost of $21.39 per share, with a total value of $237,022.59.
  • On Tuesday, June 9th, Saba Capital Management, L.P. purchased 3,600 shares of Mexico Fund stock. The stock was 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. purchased 19,906 shares of Mexico Fund stock. The stock was bought 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 bought at an average price of $21.61 per share, for a total transaction of $693,724.22.
  • On Wednesday, June 3rd, Saba Capital Management, L.P. acquired 31,949 shares of Mexico Fund stock. The shares were bought at an average cost of $22.16 per share, for a total transaction of $707,989.84.

Mexico Fund Trading Down 0.4%

Mexico Fund stock opened at $21.62 on Friday. The stock has a 50-day moving average price of $21.77 and a 200 day moving average price of $21.38. Mexico Fund, Inc. has a 52 week low of $16.57 and a 52 week high of $23.00.

Mexico Fund Announces Dividend

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 issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Trading of Mexico Fund

A number of hedge funds have recently bought and sold shares of the company. Scotia Capital Inc. grew its stake in Mexico Fund by 127.8% in the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company’s stock worth $500,000 after acquiring an additional 14,241 shares during the period. Verition Fund Management LLC lifted its stake in shares of Mexico Fund by 21.7% during the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company’s stock worth $1,960,000 after purchasing an additional 17,747 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Mexico Fund during the third quarter worth $265,000. Uhlmann Price Securities LLC boosted its holdings in shares of Mexico Fund by 1.0% during the fourth quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company’s stock worth $2,118,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Mexico Fund by 775.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 1,194 shares during the period.

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.

Further Reading

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

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