Key Points
- Saba Capital Management, L.P. purchased 2,403 shares of Mexico Fund (MXF) on Dec. 8 at an average price of $19.63, increasing its holding to 1,629,561 shares (about $31.99M), a 0.15% rise in its position.
- The firm has been steadily accumulating MXF with multiple recent buys, notably 47,273 shares on Nov. 18 and 15,492 shares on Dec. 5, indicating sustained insider accumulation.
- Mexico Fund shares opened at $19.88 (12‑month high $19.91, low $13.10) and the fund pays a quarterly $0.25 dividend (annualized $1.00), representing a roughly 5.0% yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 2,403 shares of the stock in a transaction dated Monday, December 8th. The stock was acquired at an average price of $19.63 per share, with a total value of $47,170.89. Following the completion of the acquisition, the insider owned 1,629,561 shares in the company, valued at approximately $31,988,282.43. The trade was a 0.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 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 Friday, December 5th, Saba Capital Management, L.P. acquired 15,492 shares of Mexico Fund stock. The shares were bought at an average cost of $19.59 per share, for a total transaction of $303,488.28.
- On Thursday, December 4th, Saba Capital Management, L.P. bought 698 shares of Mexico Fund stock. The stock was bought at an average cost of $19.58 per share, with a total value of $13,666.84.
- On Tuesday, December 2nd, Saba Capital Management, L.P. bought 299 shares of Mexico Fund stock. The shares were bought 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. purchased 10,902 shares of Mexico Fund stock. The stock was bought at an average cost of $19.45 per share, for a total transaction of $212,043.90.
- On Tuesday, November 25th, Saba Capital Management, L.P. acquired 1,869 shares of Mexico Fund stock. The stock was bought at an average price of $19.10 per share, with a total value of $35,697.90.
- On Friday, November 21st, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The shares were bought at an average cost of $18.76 per share, with a total value of $3,752.00.
- On Tuesday, November 18th, Saba Capital Management, L.P. bought 47,273 shares of Mexico Fund stock. The stock was purchased 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. bought 13,451 shares of Mexico Fund stock. The stock was purchased at an average cost of $18.94 per share, for a total transaction of $254,761.94.
- On Thursday, October 23rd, Saba Capital Management, L.P. purchased 506 shares of Mexico Fund stock. The shares were purchased at an average price of $18.64 per share, with a total value of $9,431.84.
Mexico Fund Price Performance
Shares of Mexico Fund stock opened at $19.88 on Wednesday. The company's fifty day simple moving average is $19.15 and its two-hundred day simple moving average is $18.28. Mexico Fund, Inc. has a 12-month low of $13.10 and a 12-month high of $19.91.
Mexico Fund Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Wednesday, October 22nd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Wednesday, October 22nd.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC lifted its position in shares of Mexico Fund by 92.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company's stock worth $49,000 after purchasing an additional 1,200 shares during the period. Scotia Capital Inc. bought a new stake in Mexico Fund during the 2nd quarter valued at approximately $196,000. Alpine Global Management LLC bought a new position in shares of Mexico Fund in the 3rd quarter worth approximately $265,000. Calamos Advisors LLC lifted its stake in shares of Mexico Fund by 21.7% in the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock valued at $280,000 after purchasing an additional 2,535 shares during the period. Finally, North Ground Capital purchased a new stake in Mexico Fund in the third quarter worth $608,000.
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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