Key Points
- Major shareholder Saba Capital Management, L.P. bought 2,520 shares of Mexico Fund on Jan. 12 at an average price of $20.45, raising its direct stake to 1,693,830 shares (≈$34.64M), a 0.15% ownership increase.
- Saba has been steadily accumulating MXF through multiple recent purchases in December and January—including 28,475 shares on Dec. 15 and 16,228 on Dec. 16—signaling ongoing insider buying.
- Mexico Fund raised its quarterly dividend to $0.35 (from $0.25), an annualized $1.40 and ~6.8% yield; the ex-dividend/record date is Jan. 21 and the payment is scheduled for Jan. 29.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 2,520 shares of the business's stock in a transaction dated Monday, January 12th. The shares were purchased at an average price of $20.45 per share, with a total value of $51,534.00. Following the acquisition, the insider directly owned 1,693,830 shares in the company, valued at approximately $34,638,823.50. The trade was a 0.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Friday, January 9th, Saba Capital Management, L.P. acquired 10 shares of Mexico Fund stock. The stock was acquired at an average price of $20.24 per share, for a total transaction of $202.40.
- On Tuesday, December 16th, Saba Capital Management, L.P. bought 16,228 shares of Mexico Fund stock. The shares were acquired at an average cost of $19.95 per share, with a total value of $323,748.60.
- On Monday, December 15th, Saba Capital Management, L.P. bought 28,475 shares of Mexico Fund stock. The stock was acquired at an average price of $20.22 per share, for a total transaction of $575,764.50.
- On Friday, December 12th, Saba Capital Management, L.P. purchased 9,400 shares of Mexico Fund stock. The stock was acquired 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 shares were acquired at an average price of $20.20 per share, with a total value of $121,361.60.
- On Wednesday, December 10th, Saba Capital Management, L.P. acquired 1,000 shares of Mexico Fund stock. The stock was 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 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 shares were bought 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. purchased 698 shares of Mexico Fund stock. The stock was bought at an average cost of $19.58 per share, for a total transaction of $13,666.84.
Mexico Fund Stock Up 0.6%
NYSE:MXF opened at $20.66 on Wednesday. Mexico Fund, Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $20.79. The company has a 50 day moving average price of $19.79 and a 200 day moving average price of $18.87.
Mexico Fund Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Stockholders of record on Wednesday, January 21st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This is a boost from Mexico Fund's previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%.
Hedge Funds Weigh In On Mexico Fund
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. City of London Investment Management Co. Ltd. grew its position 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 acquiring an additional 305,864 shares in the last quarter. North Ground Capital purchased a new position in shares of Mexico Fund in the third quarter valued at approximately $608,000. Verition Fund Management LLC boosted its stake in shares of Mexico Fund by 21.7% in the third quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company's stock valued at $1,960,000 after purchasing an additional 17,747 shares during the period. Scotia Capital Inc. grew its holdings in shares of Mexico Fund by 127.8% in the third quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company's stock valued at $500,000 after purchasing an additional 14,241 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new stake in Mexico Fund during the 3rd quarter worth approximately $265,000.
About Mexico Fund
(
Get Free Report)
The Mexico Fund, Inc (NYSE: MXF) is a closed-end management investment company that seeks long-term capital appreciation through exposure to Mexican securities. The fund primarily invests in equity instruments of companies organized or principally operating in Mexico, spanning a range of sectors such as financial services, consumer goods, industrials and energy. It may also allocate portions of its portfolio to fixed-income securities, including government and corporate bonds, when attractive opportunities arise.
Launched in 1991 and incorporated under Maryland law, The Mexico Fund offers U.S.
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