Key Points
- Saba Capital Management, L.P. has been buying Mexico Fund shares in a series of trades in late November–December, including 6,008 shares on Dec. 11 at $20.20 (≈$121,362), bringing its total holding to 1,637,197 shares valued at about $33.07M (a 0.37% ownership increase).
- Mexico Fund raised its quarterly dividend to $0.35 per share (from $0.25), equivalent to $1.40 annually and a ~6.9% yield; the ex-dividend date is Jan. 21 with payment on Jan. 29.
- MXF is trading near $20.15, close to its 12‑month high of $20.45, with a 50‑day moving average of $19.22 and a 200‑day moving average of $18.38.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 6,008 shares of the business's stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average cost of $20.20 per share, with a total value of $121,361.60. Following the completion of the purchase, the insider owned 1,637,197 shares of the company's stock, valued at approximately $33,071,379.40. The trade was a 0.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more 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 12th, Saba Capital Management, L.P. purchased 9,400 shares of Mexico Fund stock. The stock was bought at an average cost of $19.91 per share, for a total transaction of $187,154.00.
- On Wednesday, December 10th, Saba Capital Management, L.P. acquired 1,000 shares of Mexico Fund stock. The shares were bought at an average cost of $19.70 per share, with a total value of $19,700.00.
- On Tuesday, December 9th, Saba Capital Management, L.P. bought 628 shares of Mexico Fund stock. The shares were bought at an average cost of $19.74 per share, for a total transaction of $12,396.72.
- On Monday, December 8th, Saba Capital Management, L.P. bought 2,403 shares of Mexico Fund stock. The shares were bought at an average cost of $19.63 per share, with a total value of $47,170.89.
- On Friday, December 5th, Saba Capital Management, L.P. purchased 15,492 shares of Mexico Fund stock. The stock was 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. acquired 698 shares of Mexico Fund stock. The shares were bought at an average price 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 purchased at an average cost of $19.44 per share, for a total transaction of $5,812.56.
- On Monday, December 1st, Saba Capital Management, L.P. purchased 10,902 shares of Mexico Fund stock. The stock was purchased at an average price of $19.45 per share, with a total value of $212,043.90.
- On Tuesday, November 25th, Saba Capital Management, L.P. acquired 1,869 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.10 per share, with a total value of $35,697.90.
- On Friday, November 21st, Saba Capital Management, L.P. bought 200 shares of Mexico Fund stock. The shares were purchased at an average cost of $18.76 per share, for a total transaction of $3,752.00.
Mexico Fund Stock Performance
MXF opened at $20.15 on Tuesday. The stock has a fifty day moving average of $19.22 and a 200-day moving average of $18.38. Mexico Fund, Inc. has a 12-month low of $13.10 and a 12-month high of $20.45.
Mexico Fund Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Wednesday, January 21st. This is a boost from Mexico Fund's previous quarterly dividend of $0.25.
Hedge Funds Weigh In On Mexico Fund
A number of large investors have recently made changes to their positions in the business. SFI Advisors LLC raised its holdings in shares of Mexico Fund by 342.4% during the first quarter. SFI Advisors LLC now owns 131,807 shares of the investment management company's stock worth $1,876,000 after acquiring an additional 102,015 shares in the last quarter. Landscape Capital Management L.L.C. boosted its position 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 purchasing an additional 19,109 shares during the period. City of London Investment Management Co. Ltd. grew its stake in Mexico Fund by 9.3% in the 2nd 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 buying an additional 305,864 shares during the last quarter. Almitas Capital LLC grew its position in shares of Mexico Fund by 8.3% in 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 during the last quarter. Finally, Uhlmann Price Securities LLC grew its holdings in 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 buying an additional 696 shares during the last quarter.
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.
Further Reading
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