Key Points
- Saba Capital Management, L.P. bought 5,000 shares of Mexico Fund (NYSE:MXF) on March 18 at an average price of $20.38, raising its stake to 1,744,162 shares (a 0.29% increase) valued at about $35.55 million.
- The firm has been steadily accumulating MXF shares since January with multiple purchases, including a notable 32,126‑share buy on February 13 at $22.69, signaling continued insider accumulation.
- Mexico Fund declared a quarterly dividend of $0.35 per share (ex-dividend April 22, payable April 30), which annualizes to $1.40 and represents a 7.1% yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 5,000 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was acquired at an average price of $20.38 per share, for a total transaction of $101,900.00. Following the transaction, the insider owned 1,744,162 shares of the company's stock, valued at $35,546,021.56. The trade was a 0.29% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Friday, March 13th, Saba Capital Management, L.P. acquired 2,600 shares of Mexico Fund stock. The shares were bought at an average price of $20.21 per share, with a total value of $52,546.00.
- On Thursday, March 12th, Saba Capital Management, L.P. acquired 456 shares of Mexico Fund stock. The shares were bought at an average price of $20.35 per share, with a total value of $9,279.60.
- On Tuesday, March 10th, Saba Capital Management, L.P. acquired 1,005 shares of Mexico Fund stock. The shares were bought at an average cost of $20.94 per share, with a total value of $21,044.70.
- On Thursday, March 5th, Saba Capital Management, L.P. bought 4,480 shares of Mexico Fund stock. The stock was bought at an average price of $21.34 per share, for a total transaction of $95,603.20.
- On Friday, February 13th, Saba Capital Management, L.P. bought 32,126 shares of Mexico Fund stock. The shares were bought at an average cost of $22.69 per share, for a total transaction of $728,938.94.
- On Thursday, January 29th, Saba Capital Management, L.P. bought 3,115 shares of Mexico Fund stock. The shares were bought 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 shares were 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. purchased 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. 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. acquired 10 shares of Mexico Fund stock. The shares were bought at an average price of $20.24 per share, for a total transaction of $202.40.
Mexico Fund Stock Performance
NYSE MXF opened at $19.62 on Friday. Mexico Fund, Inc. has a 1 year low of $13.10 and a 1 year high of $23.00. The stock's 50-day moving average price is $21.62 and its two-hundred day moving average price is $20.16.
Mexico Fund Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.1%.
Hedge Funds Weigh In On Mexico Fund
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXF. Farther Finance Advisors LLC grew its position in 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 worth $27,000 after purchasing an additional 1,194 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake 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 valued at $49,000 after purchasing an additional 1,200 shares during the period. Scotia Capital Inc. purchased a new stake in shares of Mexico Fund in the second quarter valued at $196,000. Alpine Global Management LLC purchased a new stake in shares of Mexico Fund in the third quarter valued at $265,000. Finally, Calamos Advisors LLC boosted its position in shares of Mexico Fund by 21.7% in the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock worth $280,000 after buying an additional 2,535 shares during the period.
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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