Key Points
- Saba Capital Management, L.P. purchased 1,005 shares of Mexico Fund (NYSE:MXF) on March 10 at an average price of $20.94, bringing its holding to 1,736,106 shares valued at about $36.35 million (a 0.06% increase).
- Saba has been steadily accumulating MXF through multiple buys (including a 32.4% increase in Q4 after adding 413,606 shares), indicating continued insider accumulation over the past months.
- MXF traded down 2.3% to $20.34 on Thursday, trading 28,025 shares versus an average of 77,787, and sits below its 50‑day SMA ($21.64) but near its 200‑day SMA ($20.07) with a 1‑year range of $13.10–$23.00.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 1,005 shares of Mexico Fund stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $20.94 per share, for a total transaction of $21,044.70. Following the completion of the purchase, the insider owned 1,736,106 shares in the company, valued at approximately $36,354,059.64. The trade was a 0.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more 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, March 5th, Saba Capital Management, L.P. acquired 4,480 shares of Mexico Fund stock. The shares were purchased at an average price of $21.34 per share, with a total value of $95,603.20.
- 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, for a total transaction 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. purchased 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 shares were acquired 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. acquired 10 shares of Mexico Fund stock. The stock was acquired 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. 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. acquired 28,475 shares of Mexico Fund stock. The stock was acquired 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 acquired at an average price of $19.91 per share, for a total transaction of $187,154.00.
Mexico Fund Trading Down 2.3%
NYSE MXF traded down $0.47 during trading hours on Thursday, hitting $20.34. 28,025 shares of the company's stock were exchanged, compared to its average volume of 77,787. Mexico Fund, Inc. has a 1-year low of $13.10 and a 1-year high of $23.00. The stock has a 50-day simple moving average of $21.64 and a 200 day simple moving average of $20.07.
Institutional Trading of Mexico Fund
Hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. lifted its position in shares of Mexico Fund by 32.4% during the 4th quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company's stock valued at $34,063,000 after acquiring an additional 413,606 shares during the period. City of London Investment Management Co. Ltd. grew its holdings in Mexico Fund by 9.3% in 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. Marex Group plc bought a new stake in Mexico Fund in the fourth quarter valued at $1,926,000. North Ground Capital increased its stake in Mexico Fund by 309.2% in the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company's stock valued at $2,544,000 after purchasing an additional 95,443 shares in the last quarter. Finally, Altium Capital Management LLC acquired a new position in shares of Mexico Fund during the fourth quarter valued at about $972,000.
Mexico Fund Company Profile
(
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
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