Mexico Fund (NYSE:MXF) Major Shareholder Saba Capital Management, L.P. Acquires 16,035 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF – Get Free Report) major shareholder Saba Capital Management, L.P. bought 16,035 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The stock was acquired at an average cost of $20.42 per share, for a total transaction of $327,434.70. Following the acquisition, the insider directly owned 2,422,660 shares of the company’s stock, valued at $49,470,717.20. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Monday, November 9th, Saba Capital Management, L.P. purchased 4,365 shares of Mexico Fund stock. The stock was acquired at an average price of $21.06 per share, for a total transaction of $91,926.90.
  • On Friday, November 6th, Saba Capital Management, L.P. purchased 18,250 shares of Mexico Fund stock. The stock was acquired at an average price of $20.75 per share, for a total transaction of $378,687.50.
  • On Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The shares were acquired 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. purchased 15,011 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.95 per share, with a total value of $314,480.45.
  • On Tuesday, November 3rd, Saba Capital Management, L.P. acquired 13,804 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.54 per share, with a total value of $283,534.16.
  • On Monday, November 2nd, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.51 per share, with a total value of $4,102.00.
  • On Friday, October 30th, Saba Capital Management, L.P. acquired 15,143 shares of Mexico Fund stock. The stock was acquired at an average price of $20.25 per share, for a total transaction of $306,645.75.
  • On Thursday, October 29th, Saba Capital Management, L.P. acquired 23,901 shares of Mexico Fund stock. The stock was acquired at an average price of $20.11 per share, for a total transaction of $480,649.11.
  • On Wednesday, October 28th, Saba Capital Management, L.P. bought 1,121 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.13 per share, for a total transaction of $22,565.73.
  • On Thursday, October 22nd, Saba Capital Management, L.P. bought 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.

Mexico Fund Stock Performance

MXF stock opened at $21.06 on Wednesday. The business has a 50 day moving average price of $20.69 and a 200 day moving average price of $21.42. Mexico Fund, Inc. has a fifty-two week low of $18.62 and a fifty-two week high of $23.00.

Mexico Fund Dividend Announcement

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

Institutional Trading of Mexico Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXF. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mexico Fund during the 2nd quarter worth approximately $33,000. Susquehanna International Group LLP acquired a new position in shares of Mexico Fund in the 2nd quarter valued at $215,000. Evolve Private Wealth LLC purchased a new position in shares of Mexico Fund in the 2nd quarter valued at $278,000. Calamos Advisors LLC grew its position in shares of Mexico Fund by 6.7% in the 3rd quarter. Calamos Advisors LLC now owns 16,802 shares of the investment management company’s stock valued at $343,000 after buying an additional 1,050 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of Mexico Fund by 25.8% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 37,957 shares of the investment management company’s stock valued at $774,000 after buying an additional 7,774 shares during the last quarter.

Key Headlines Impacting Mexico Fund

Here are the key news stories impacting Mexico Fund this week:

  • Positive Sentiment: Saba Capital Management, L.P. reported a series of 12 purchases from October 14 through November 9, adding 133,945 MXF shares and bringing its disclosed holdings to 2,540,570 shares. The sustained accumulation may indicate confidence in the fund. SEC filing for latest purchases SEC filing for earlier purchases

Mexico Fund Company Profile

(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.

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

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