Key Points
- Saba Capital Management bought 16,228 shares of Mexico Fund on Dec. 16 at an average price of $19.95, bringing its direct holdings to 1,691,300 shares valued at about $33.74 million; that single trade was disclosed as a 0.97% increase in its ownership.
- Across December Saba made multiple purchases—totaling roughly 91,533 shares—indicating a clear accumulation of MXF stock over the month.
- Mexico Fund raised its quarterly dividend to $0.35 (from $0.25), an annualized $1.40 (about a 7.0% yield); the ex-dividend date is Jan. 21 and the payment date is Jan. 29.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 16,228 shares of the firm's stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average price of $19.95 per share, with a total value of $323,748.60. Following the completion of the transaction, the insider directly owned 1,691,300 shares of the company's stock, valued at $33,741,435. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Monday, December 15th, Saba Capital Management, L.P. acquired 28,475 shares of Mexico Fund stock. The shares were bought at an average price of $20.22 per share, with a total value of $575,764.50.
- On Friday, December 12th, Saba Capital Management, L.P. acquired 9,400 shares of Mexico Fund stock. The stock was bought at an average cost of $19.91 per share, with a total value of $187,154.00.
- On Thursday, December 11th, Saba Capital Management, L.P. bought 6,008 shares of Mexico Fund stock. The stock was bought at an average price of $20.20 per share, for a total transaction of $121,361.60.
- On Wednesday, December 10th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The shares were bought at an average cost of $19.70 per share, for a total transaction of $19,700.00.
- On Tuesday, December 9th, Saba Capital Management, L.P. purchased 628 shares of Mexico Fund stock. The shares were bought 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. purchased 2,403 shares of Mexico Fund stock. The stock was 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. acquired 15,492 shares of Mexico Fund stock. The stock was 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 purchased 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 purchased 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 purchased at an average cost of $19.45 per share, for a total transaction of $212,043.90.
Mexico Fund Stock Up 1.8%
MXF opened at $19.96 on Friday. Mexico Fund, Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $20.45. The company has a fifty day moving average of $19.28 and a two-hundred day moving average of $18.42.
Mexico Fund Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Wednesday, January 21st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Wednesday, January 21st. This is a positive change from Mexico Fund's previous quarterly dividend of $0.25.
Hedge Funds Weigh In On Mexico Fund
A number of hedge funds have recently bought and sold shares of MXF. Landscape Capital Management L.L.C. raised its stake in shares of Mexico Fund by 34.9% during the 1st 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 holdings 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 worth $63,406,000 after acquiring an additional 305,864 shares in the last quarter. Almitas Capital LLC raised its position 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 worth $4,899,000 after acquiring an additional 26,418 shares during the period. Uhlmann Price Securities LLC raised its position in Mexico Fund by 0.7% during the second quarter. Uhlmann Price Securities LLC now owns 101,484 shares of the investment management company's stock worth $1,783,000 after acquiring an additional 696 shares during the period. Finally, SFI Advisors LLC lifted its holdings in Mexico Fund by 4.6% during 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 in 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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