Key Points
- Saba Capital Management bought 1,000 MXF shares on Jan. 26 at $21.50, raising its direct stake to 1,695,380 shares valued at about $36.45 million after multiple purchases in December–January, a 0.06% ownership increase.
- Mexico Fund raised its quarterly dividend to $0.35 (from $0.25), an annualized $1.40 payout implying a 6.5% yield; the ex-dividend date was Jan. 21 and the dividend is payable Jan. 29.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 1,000 shares of the business's stock in a transaction that occurred on Monday, January 26th. The stock was acquired at an average price of $21.50 per share, for a total transaction of $21,500.00. Following the completion of the acquisition, the insider directly owned 1,695,380 shares of the company's stock, valued at $36,450,670. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Wednesday, January 21st, Saba Capital Management, L.P. bought 550 shares of Mexico Fund stock. The shares were acquired at an average price of $21.29 per share, with a total value of $11,709.50.
- On Monday, January 12th, Saba Capital Management, L.P. purchased 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. purchased 10 shares of Mexico Fund stock. The stock was bought 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. acquired 16,228 shares of Mexico Fund stock. The shares were bought 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 bought at an average cost of $20.22 per share, for a total transaction of $575,764.50.
- On Friday, December 12th, Saba Capital Management, L.P. bought 9,400 shares of Mexico Fund stock. The shares were bought at an average price 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, with a total value of $121,361.60.
- On Wednesday, December 10th, Saba Capital Management, L.P. purchased 1,000 shares of Mexico Fund stock. The stock was purchased 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. acquired 628 shares of Mexico Fund stock. The shares were purchased 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 stock was purchased at an average cost of $19.63 per share, with a total value of $47,170.89.
Mexico Fund Trading Up 1.2%
MXF opened at $21.68 on Wednesday. The firm's fifty day moving average is $20.20 and its two-hundred day moving average is $19.12. Mexico Fund, Inc. has a twelve month low of $13.10 and a twelve month high of $21.80.
Mexico Fund Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Wednesday, January 21st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.5%. 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.
Institutional Investors Weigh In On Mexico Fund
A number of hedge funds have recently modified their holdings of MXF. Farther Finance Advisors LLC lifted its holdings in shares of Mexico Fund by 775.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock valued at $27,000 after purchasing an additional 1,194 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in Mexico Fund by 92.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company's stock worth $49,000 after buying an additional 1,200 shares during the period. Scotia Capital Inc. bought a new position in Mexico Fund in the second quarter valued at approximately $196,000. Alpine Global Management LLC acquired a new position in shares of Mexico Fund in the third quarter valued at approximately $265,000. Finally, Calamos Advisors LLC increased its position in shares of 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 acquiring an additional 2,535 shares in the last quarter.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
