Key Points
- Saba Capital Management, L.P. purchased 1,869 shares of Mexico Fund (MXF) at an average price of $19.10 on Nov 25, raising its stake to 1,599,767 shares (a 0.12% increase) as part of a recent string of accumulative buys including 47,273 shares on Nov 18.
- Mexico Fund recently paid a quarterly dividend of $0.25 ($1.00 annualized), implying a 5.2% yield
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 1,869 shares of the firm's stock in a transaction dated Tuesday, November 25th. The stock was acquired at an average cost of $19.10 per share, with a total value of $35,697.90. Following the transaction, the insider owned 1,599,767 shares of the company's stock, valued at $30,555,549.70. This trade represents a 0.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 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 Friday, November 21st, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The stock was bought at an average price of $18.76 per share, for a total transaction of $3,752.00.
- On Tuesday, November 18th, Saba Capital Management, L.P. acquired 47,273 shares of Mexico Fund stock. The shares were purchased at an average cost of $19.15 per share, with a total value of $905,277.95.
- On Monday, November 17th, Saba Capital Management, L.P. acquired 13,451 shares of Mexico Fund stock. The stock was purchased at an average price of $18.94 per share, for a total transaction of $254,761.94.
- On Thursday, October 23rd, Saba Capital Management, L.P. bought 506 shares of Mexico Fund stock. The shares were bought at an average price of $18.64 per share, for a total transaction of $9,431.84.
Mexico Fund Stock Performance
NYSE:MXF traded up $0.13 during midday trading on Thursday, reaching $19.24. The stock had a trading volume of 13,607 shares, compared to its average volume of 43,575. The firm's fifty day simple moving average is $19.12 and its 200-day simple moving average is $18.07. Mexico Fund, Inc. has a 1-year low of $12.99 and a 1-year high of $19.86.
Mexico Fund Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Wednesday, October 22nd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Wednesday, October 22nd.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of MXF. City of London Investment Management Co. Ltd. lifted its holdings in shares of Mexico Fund by 9.3% during the 2nd quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company's stock worth $63,406,000 after acquiring an additional 305,864 shares during the period. SFI Advisors LLC increased its stake in Mexico Fund by 342.4% in the first quarter. SFI Advisors LLC now owns 131,807 shares of the investment management company's stock valued at $1,876,000 after acquiring an additional 102,015 shares during the period. Wolverine Asset Management LLC raised its position in Mexico Fund by 62.1% in the first quarter. Wolverine Asset Management LLC now owns 236,078 shares of the investment management company's stock worth $3,359,000 after purchasing an additional 90,483 shares in the last quarter. North Ground Capital bought a new position in Mexico Fund during the third quarter worth about $608,000. Finally, Almitas Capital LLC boosted its holdings in Mexico Fund by 8.3% during the first quarter. Almitas Capital LLC now owns 344,264 shares of the investment management company's stock valued at $4,899,000 after purchasing an additional 26,418 shares in the last quarter.
Mexico Fund Company Profile
(
Get Free Report)
The Mexico Fund, Inc is a closed-ended equity mutual fund launched and managed by Impulsora del Fondo México, S.C. It primarily invests in public equity markets of Mexico. The fund seeks to invest its portfolio across diversified sectors. The Mexico Fund, Inc was formed in June 01, 1981 and is domiciled in Maryland, United States.
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