Key Points
- On March 20, major shareholder Saba Capital Management, L.P. purchased 2,871 MXF shares at $19.83, bringing its direct holdings to 1,747,033 shares (about $34.64M), a 0.16% increase.
- Saba has been steadily accumulating MXF through multiple purchases this year, including a notable 32,126‑share buy on Feb 13 at $22.69, indicating active accumulation.
- Mexico Fund declared a quarterly dividend of $0.35 payable April 30 (ex‑dividend/record date April 22), equal to an annualized $1.40 and a yield of about 7.0%.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 2,871 shares of the company's stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $19.83 per share, for a total transaction of $56,931.93. Following the completion of the acquisition, the insider directly owned 1,747,033 shares of the company's stock, valued at approximately $34,643,664.39. This represents a 0.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Wednesday, March 18th, Saba Capital Management, L.P. purchased 5,000 shares of Mexico Fund stock. The shares were bought at an average price of $20.38 per share, with a total value of $101,900.00.
- On Friday, March 13th, Saba Capital Management, L.P. purchased 2,600 shares of Mexico Fund stock. The stock was bought at an average cost of $20.21 per share, with a total value of $52,546.00.
- On Thursday, March 12th, Saba Capital Management, L.P. purchased 456 shares of Mexico Fund stock. The stock was purchased at an average price of $20.35 per share, for a total transaction of $9,279.60.
- On Tuesday, March 10th, Saba Capital Management, L.P. acquired 1,005 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.94 per share, for a total transaction of $21,044.70.
- 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. acquired 32,126 shares of Mexico Fund stock. The shares were purchased at an average price 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 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 purchased at an average price 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 purchased at an average price of $21.29 per share, for a total transaction of $11,709.50.
- On Monday, January 12th, Saba Capital Management, L.P. purchased 2,520 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.45 per share, with a total value of $51,534.00.
Mexico Fund Price Performance
Shares of MXF opened at $19.96 on Tuesday. Mexico Fund, Inc. has a twelve month low of $13.10 and a twelve month high of $23.00. The firm has a 50 day moving average of $21.61 and a 200 day moving average of $20.19.
Mexico Fund Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.0%.
Institutional Investors Weigh In On Mexico Fund
Several institutional investors have recently modified their holdings of MXF. Scotia Capital Inc. bought a new stake in Mexico Fund in the 2nd quarter worth about $196,000. Quantedge Capital Pte Ltd raised its position in Mexico Fund by 3.7% in the 2nd quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company's stock worth $2,286,000 after buying an additional 4,650 shares during the last quarter. Calamos Advisors LLC lifted its stake in Mexico Fund by 21.7% during the 3rd quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company's stock valued at $280,000 after acquiring an additional 2,535 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings 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 valued at $49,000 after acquiring an additional 1,200 shares during the last quarter. Finally, North Ground Capital purchased a new stake in shares of Mexico Fund during the 3rd quarter valued at about $608,000.
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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