Key Points
- Saba Capital Management, L.P. purchased 15,492 shares of Mexico Fund (NYSE:MXF) on Dec. 5 at an average price of $19.59 (about $303,488), bringing its holding to 1,627,158 shares (~$31.88M) and increasing ownership by 0.96%, as disclosed in an SEC filing.
- Saba has been steadily accumulating MXF through multiple recent buys, notably 47,273 shares on Nov. 18 (~$905,278) and 10,902 shares on Dec. 1 (~$212,044), indicating continued accumulation by the major shareholder.
- Mexico Fund recently paid a quarterly dividend of $0.25 (annualized $1.00), which corresponds to a 5.1% dividend yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 698 shares of the stock in a transaction dated Thursday, December 4th. The stock was acquired at an average cost of $19.58 per share, with a total value of $13,666.84. Following the transaction, the insider directly owned 1,611,666 shares in the company, valued at approximately $31,556,420.28. This trade represents a 0.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 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, December 5th, Saba Capital Management, L.P. purchased 15,492 shares of Mexico Fund stock. The shares were acquired at an average cost of $19.59 per share, for a total transaction of $303,488.28.
- On Tuesday, December 2nd, Saba Capital Management, L.P. acquired 299 shares of Mexico Fund stock. The shares were acquired at an average price of $19.44 per share, with a total value of $5,812.56.
- On Monday, December 1st, Saba Capital Management, L.P. acquired 10,902 shares of Mexico Fund stock. The stock was acquired at an average cost of $19.45 per share, with a total value of $212,043.90.
- On Tuesday, November 25th, Saba Capital Management, L.P. bought 1,869 shares of Mexico Fund stock. The shares were acquired at an average cost of $19.10 per share, for a total transaction of $35,697.90.
- On Friday, November 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was acquired at an average price of $18.76 per share, with a total value of $3,752.00.
- On Tuesday, November 18th, Saba Capital Management, L.P. purchased 47,273 shares of Mexico Fund stock. The shares were acquired at an average price of $19.15 per share, for a total transaction of $905,277.95.
- On Monday, November 17th, Saba Capital Management, L.P. acquired 13,451 shares of Mexico Fund stock. The shares were bought 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. acquired 506 shares of Mexico Fund stock. The stock was bought at an average cost of $18.64 per share, with a total value of $9,431.84.
Mexico Fund Trading Up 0.5%
MXF stock opened at $19.64 on Tuesday. Mexico Fund, Inc. has a 52 week low of $13.10 and a 52 week high of $19.86. The firm has a 50 day moving average of $19.15 and a 200 day moving average of $18.26.
Mexico Fund Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 30th. Investors of record on Wednesday, October 22nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, October 22nd.
Institutional Trading of Mexico Fund
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC grew its stake in Mexico Fund by 92.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company's stock valued at $49,000 after purchasing an additional 1,200 shares during the last quarter. Scotia Capital Inc. acquired a new stake in shares of Mexico Fund during the second quarter worth about $196,000. Alpine Global Management LLC purchased a new stake in Mexico Fund in the third quarter valued at approximately $265,000. Calamos Advisors LLC boosted its position in Mexico Fund by 21.7% in the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock valued at $280,000 after buying an additional 2,535 shares during the last quarter. Finally, North Ground Capital acquired a new position in Mexico Fund in the 3rd quarter worth approximately $608,000.
About Mexico Fund
(
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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