Key Points
- Saba Capital Management, L.P. continued accumulating Mexico Fund stock, buying 628 shares on Dec. 9 at $19.74 and now owning 1,630,189 shares valued at about $32.18M, part of multiple Nov–Dec purchases including a 47,273-share buy on Nov. 18.
- Mexico Fund raised its quarterly dividend to $0.35 (from $0.25), annualized $1.40 for a ~7.0% yield; the ex-dividend date is Jan. 21 and the dividend is payable Jan. 29.
- Shares traded up about 2.2% to $20.13 midday, putting the stock near its 12-month high of $20.30 and above its 50‑/200‑day averages of $19.18/$18.31.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 628 shares of the company's stock in a transaction that occurred on Tuesday, December 9th. The shares were acquired at an average cost of $19.74 per share, with a total value of $12,396.72. Following the purchase, the insider owned 1,630,189 shares in the company, valued at $32,179,930.86. This represents a 0.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large 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 Wednesday, December 10th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The stock was acquired at an average cost of $19.70 per share, for a total transaction of $19,700.00.
- On Monday, December 8th, Saba Capital Management, L.P. purchased 2,403 shares of Mexico Fund stock. The stock was bought at an average price of $19.63 per share, with a total value of $47,170.89.
- On Friday, December 5th, Saba Capital Management, L.P. acquired 15,492 shares of Mexico Fund stock. The shares were bought at an average price of $19.59 per share, for a total transaction of $303,488.28.
- On Thursday, December 4th, Saba Capital Management, L.P. acquired 698 shares of Mexico Fund stock. The shares were bought at an average cost of $19.58 per share, for a total transaction of $13,666.84.
- On Tuesday, December 2nd, Saba Capital Management, L.P. bought 299 shares of Mexico Fund stock. The stock was 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 shares were bought at an average price of $19.45 per share, for a total transaction of $212,043.90.
- On Tuesday, November 25th, Saba Capital Management, L.P. purchased 1,869 shares of Mexico Fund stock. The shares were purchased 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. acquired 200 shares of Mexico Fund stock. The stock was purchased 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 shares were purchased at an average cost of $19.15 per share, for a total transaction of $905,277.95.
- On Monday, November 17th, Saba Capital Management, L.P. purchased 13,451 shares of Mexico Fund stock. The stock was purchased at an average cost of $18.94 per share, with a total value of $254,761.94.
Mexico Fund Stock Up 2.2%
Shares of NYSE MXF traded up $0.43 during midday trading on Friday, reaching $20.13. 7,216 shares of the stock were exchanged, compared to its average volume of 55,289. The company has a 50 day simple moving average of $19.18 and a 200 day simple moving average of $18.31. Mexico Fund, Inc. has a twelve month low of $13.10 and a twelve month high of $20.30.
Mexico Fund Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st will be given a $0.35 dividend. This is an increase from Mexico Fund's previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Wednesday, January 21st.
Hedge Funds Weigh In On Mexico Fund
A number of hedge funds have recently modified their holdings of MXF. SFI Advisors LLC raised its holdings in Mexico Fund by 342.4% in the 1st quarter. SFI Advisors LLC now owns 131,807 shares of the investment management company's stock valued at $1,876,000 after buying an additional 102,015 shares during the period. Landscape Capital Management L.L.C. boosted its stake in Mexico Fund by 34.9% during the first quarter. Landscape Capital Management L.L.C. now owns 73,799 shares of the investment management company's stock worth $1,050,000 after buying an additional 19,109 shares during the period. City of London Investment Management Co. Ltd. increased its position in shares of Mexico Fund by 9.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 3,608,772 shares of the investment management company's stock valued at $63,406,000 after acquiring an additional 305,864 shares during the last quarter. Almitas Capital LLC increased its position in shares of 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 acquiring an additional 26,418 shares during the last quarter. Finally, Uhlmann Price Securities LLC raised its stake in shares of Mexico Fund by 0.7% in the 2nd quarter. Uhlmann Price Securities LLC now owns 101,484 shares of the investment management company's stock valued at $1,783,000 after acquiring an additional 696 shares during the period.
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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