Key Points
- Saba Capital Management bought 28,475 shares of Mexico Fund (MXF) on Dec. 15 at an average price of $20.22, spending $575,764.50 and raising its direct stake to 1,675,072 shares (≈$33.87M), a 1.73% increase.
- Saba made a series of additional purchases throughout early December (Dec. 1, 2, 4, 5, 8–12), indicating continued accumulation of MXF shares over the month.
- Mexico Fund increased its quarterly dividend to $0.35 ($1.40 annualized) for a 7.0% yield, with an ex-dividend date of Jan. 21 and a payment date of Jan. 29, up from the prior $0.25 quarterly payout.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 28,475 shares of the company's stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average price of $20.22 per share, for a total transaction of $575,764.50. Following the completion of the acquisition, the insider directly owned 1,675,072 shares in the company, valued at approximately $33,869,955.84. This represents a 1.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large 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. bought 9,400 shares of Mexico Fund stock. The shares were bought at an average cost of $19.91 per share, for a total transaction of $187,154.00.
- On Thursday, December 11th, Saba Capital Management, L.P. purchased 6,008 shares of Mexico Fund stock. The stock was bought at an average cost of $20.20 per share, for a total transaction of $121,361.60.
- On Wednesday, December 10th, Saba Capital Management, L.P. acquired 1,000 shares of Mexico Fund stock. The shares were bought at an average price of $19.70 per share, for a total transaction of $19,700.00.
- On Tuesday, December 9th, Saba Capital Management, L.P. bought 628 shares of Mexico Fund stock. The stock was purchased at an average price of $19.74 per share, with a total value of $12,396.72.
- On Monday, December 8th, Saba Capital Management, L.P. bought 2,403 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.63 per share, for a total transaction of $47,170.89.
- On Friday, December 5th, Saba Capital Management, L.P. purchased 15,492 shares of Mexico Fund stock. The stock was purchased at an average price of $19.59 per share, with a total value of $303,488.28.
- On Thursday, December 4th, Saba Capital Management, L.P. acquired 698 shares of Mexico Fund stock. The stock was purchased 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 stock was 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. bought 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. purchased 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.
Mexico Fund Stock Performance
Shares of NYSE MXF opened at $20.00 on Wednesday. Mexico Fund, Inc. has a one year low of $13.10 and a one year high of $20.45. The business has a 50-day moving average price of $19.25 and a two-hundred day moving average price of $18.40.
Mexico Fund Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.0%. This is an increase from Mexico Fund's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, January 21st.
Institutional Trading of Mexico Fund
Large investors have recently made changes to their positions in the stock. City of London Investment Management Co. Ltd. raised its stake in shares of 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 acquiring an additional 305,864 shares in the last quarter. Almitas Capital LLC grew 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 during the last quarter. SFI Advisors LLC raised its position in shares of Mexico Fund by 4.6% in the second quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company's stock valued at $2,423,000 after purchasing an additional 6,121 shares during the period. Quantedge Capital Pte Ltd lifted its stake in shares of Mexico Fund by 3.7% in the second quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company's stock worth $2,286,000 after buying an additional 4,650 shares during the last quarter. Finally, Uhlmann Price Securities LLC grew its stake in Mexico Fund by 2.5% in the 3rd quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company's stock valued at $2,050,000 after buying an additional 2,583 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.
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