Key Points
- Saba Capital Management, L.P. bought 32,126 shares of Mexico Fund (NYSE:MXF) on Feb 13 at an average price of $22.69 — a ~$728,939 purchase that raised its stake to 1,730,621 shares (a 1.89% increase), valued at about $39.27 million.
- The Feb. 13 purchase is part of a steady accumulation since December, with multiple additional buys (e.g., 28,475 shares on Dec. 15 and 16,228 on Dec. 16), indicating sustained buying by Saba.
- Dividend increase: Mexico Fund raised its quarterly payout to $0.35 (from $0.25), equal to a $1.40 annualized dividend and roughly a 6.2% yield, paid Jan. 29 to shareholders of record Jan. 21.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 32,126 shares of Mexico Fund stock in a transaction on Friday, February 13th. The stock was purchased at an average price of $22.69 per share, for a total transaction of $728,938.94. Following the completion of the transaction, the insider owned 1,730,621 shares of the company's stock, valued at approximately $39,267,790.49. This represents a 1.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% 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 Thursday, January 29th, Saba Capital Management, L.P. purchased 3,115 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.97 per share, with a total value of $68,436.55.
- On Monday, January 26th, Saba Capital Management, L.P. bought 1,000 shares of Mexico Fund stock. The stock was bought at an average cost of $21.50 per share, with a total value of $21,500.00.
- On Wednesday, January 21st, Saba Capital Management, L.P. acquired 550 shares of Mexico Fund stock. The stock was bought 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. bought 2,520 shares of Mexico Fund stock. The shares were purchased at an average price of $20.45 per share, with a total value of $51,534.00.
- On Friday, January 9th, Saba Capital Management, L.P. bought 10 shares of Mexico Fund stock. The shares were 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. acquired 16,228 shares of Mexico Fund stock. The stock was acquired 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 bought 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. 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. bought 6,008 shares of Mexico Fund stock. The stock was purchased 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. acquired 1,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $19.70 per share, for a total transaction of $19,700.00.
Mexico Fund Stock Down 0.5%
NYSE MXF opened at $22.61 on Wednesday. Mexico Fund, Inc. has a one year low of $13.10 and a one year high of $22.99. The stock's 50-day moving average is $21.09 and its 200-day moving average is $19.65.
Mexico Fund Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, January 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.2%. The ex-dividend date was Wednesday, January 21st. This is an increase from Mexico Fund's previous quarterly dividend of $0.25.
Institutional Investors Weigh In On Mexico Fund
Large investors have recently made changes to their positions in the stock. City of London Investment Management Co. Ltd. increased its stake in shares of Mexico Fund by 9.3% during the second 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 purchasing an additional 305,864 shares during the period. North Ground Capital acquired a new position in Mexico Fund in the 3rd quarter valued at $608,000. Uhlmann Price Securities LLC grew its holdings in Mexico Fund by 0.7% in the 2nd quarter. Uhlmann Price Securities LLC now owns 101,484 shares of the investment management company's stock valued at $1,783,000 after buying an additional 696 shares in the last quarter. SFI Advisors LLC increased its position in Mexico Fund by 4.6% during the 2nd quarter. SFI Advisors LLC now owns 137,928 shares of the investment management company's stock worth $2,423,000 after buying an additional 6,121 shares during the period. Finally, Alpine Global Management LLC acquired a new stake in shares of Mexico Fund during the third quarter worth $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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