Key Points
- Saba Capital Management bought 550 shares of Mexico Fund (MXF) on Jan 21 at $21.29, bringing its total stake to 1,694,380 shares (≈$36.07M) after a string of recent accumulation trades.
- Mexico Fund raised its quarterly dividend to $0.35 per share (annualized $1.40) for a yield of about 6.6%; the ex-dividend date was Jan 21 and the dividend is payable Jan 29.
- Share-price context: MXF opened at $21.30, trading near its one-year high of $21.78, with 50-day and 200-day moving averages of $20.05 and $19.02, respectively.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 550 shares of the business's stock in a transaction on Wednesday, January 21st. The stock was bought at an average cost of $21.29 per share, for a total transaction of $11,709.50. Following the purchase, the insider owned 1,694,380 shares of the company's stock, valued at approximately $36,073,350.20. This represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, January 12th, Saba Capital Management, L.P. acquired 2,520 shares of Mexico Fund stock. The stock was bought at an average cost of $20.45 per share, for a total transaction of $51,534.00.
- On Friday, January 9th, Saba Capital Management, L.P. bought 10 shares of Mexico Fund stock. The stock was bought at an average cost of $20.24 per share, with a total value of $202.40.
- On Tuesday, December 16th, Saba Capital Management, L.P. purchased 16,228 shares of Mexico Fund stock. The stock was purchased at an average cost of $19.95 per share, for a total transaction of $323,748.60.
- On Monday, December 15th, Saba Capital Management, L.P. purchased 28,475 shares of Mexico Fund stock. The stock was purchased 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. acquired 9,400 shares of Mexico Fund stock. The shares were purchased 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 purchased 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. purchased 1,000 shares of Mexico Fund stock. The shares were purchased 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. acquired 628 shares of Mexico Fund stock. The stock was acquired at an average price of $19.74 per share, for a total transaction of $12,396.72.
- On Monday, December 8th, Saba Capital Management, L.P. acquired 2,403 shares of Mexico Fund stock. The stock was acquired 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. bought 15,492 shares of Mexico Fund stock. The stock was acquired at an average cost of $19.59 per share, with a total value of $303,488.28.
Mexico Fund Price Performance
Shares of NYSE:MXF opened at $21.30 on Friday. The company's 50-day moving average price is $20.05 and its two-hundred day moving average price is $19.02. Mexico Fund, Inc. has a one year low of $13.10 and a one year high of $21.78.
Mexico Fund Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Wednesday, January 21st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.6%. This is a boost from Mexico Fund's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, January 21st.
Institutional Investors Weigh In On Mexico Fund
Several large investors have recently made changes to their positions in MXF. Blue Bell Private Wealth Management LLC grew its stake in shares of Mexico Fund by 92.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company's stock valued at $49,000 after buying an additional 1,200 shares in the last quarter. Scotia Capital Inc. bought a new stake in shares of Mexico Fund in the 2nd quarter valued at about $196,000. Alpine Global Management LLC acquired a new stake in Mexico Fund in the 3rd quarter valued at about $265,000. Calamos Advisors LLC grew its holdings in Mexico Fund by 21.7% during the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock worth $280,000 after purchasing an additional 2,535 shares during the period. Finally, North Ground Capital bought a new stake in Mexico Fund in the third quarter valued at approximately $608,000.
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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