Key Points
- Saba Capital Management bought 4,480 shares of Mexico Fund (MXF) on March 5 at $21.34 each (≈$95,603), raising its stake to 1,735,101 shares valued at about $37.03 million — a 0.26% increase.
- Saba has been consistently accumulating MXF over recent months with several large buys (notably 32,126 shares on Feb 13 at $22.69 and sizable December purchases), signaling ongoing insider accumulation.
- Mexico Fund raised its quarterly dividend to $0.35 (annualized $1.40), representing a 6.7% yield and an increase from the prior $0.25 quarterly payout.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 4,480 shares of the stock in a transaction on Thursday, March 5th. The stock was bought at an average price of $21.34 per share, for a total transaction of $95,603.20. Following the transaction, the insider owned 1,735,101 shares in the company, valued at approximately $37,027,055.34. This represents a 0.26% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 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 Friday, February 13th, Saba Capital Management, L.P. bought 32,126 shares of Mexico Fund stock. The shares were purchased at an average cost of $22.69 per share, with a total value of $728,938.94.
- On Thursday, January 29th, Saba Capital Management, L.P. bought 3,115 shares of Mexico Fund stock. The stock was purchased at an average price of $21.97 per share, with a total value of $68,436.55.
- On Monday, January 26th, Saba Capital Management, L.P. purchased 1,000 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $21,500.00.
- On Wednesday, January 21st, Saba Capital Management, L.P. acquired 550 shares of Mexico Fund stock. The stock was purchased at an average cost 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 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 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. purchased 16,228 shares of Mexico Fund stock. The stock was 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. purchased 28,475 shares of Mexico Fund stock. The shares were 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. acquired 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. acquired 6,008 shares of Mexico Fund stock. The stock was acquired at an average price of $20.20 per share, with a total value of $121,361.60.
Mexico Fund Stock Performance
Mexico Fund stock opened at $20.84 on Tuesday. The business has a 50 day simple moving average of $21.61 and a 200-day simple moving average of $20.05. Mexico Fund, Inc. has a 12 month low of $13.10 and a 12 month high of $23.00.
Mexico Fund Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, January 21st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Wednesday, January 21st. This is a boost from Mexico Fund's previous quarterly dividend of $0.25.
Hedge Funds Weigh In On Mexico Fund
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Mexico Fund by 775.3% in the fourth 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 during the period. Blue Bell Private Wealth Management LLC raised its position in shares of 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 purchasing an additional 1,200 shares during the last quarter. Scotia Capital Inc. acquired a new position in shares of Mexico Fund during the 2nd quarter worth about $196,000. Alpine Global Management LLC purchased a new position in Mexico Fund in the 3rd quarter valued at about $265,000. Finally, Calamos Advisors LLC lifted its stake in Mexico Fund by 21.7% in the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock valued at $280,000 after buying 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.
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