Key Points
- Saba Capital Management, L.P. bought 10,800 shares of Mexico Fund on April 2 at an average price of $21.28, bringing its stake to 1,775,132 shares (a 0.61% increase) as disclosed in an SEC filing.
- The firm has been steadily adding to its position with multiple recent purchases, including a notable 32,126-share buy on Feb 13 at $22.69 (~$728,939), plus several smaller buys throughout March and January.
- Mexico Fund declared a quarterly dividend of $0.35 per share (annualized $1.40), implying a 6.6% yield; the ex-dividend date is April 22 and the payment date is April 30.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 10,800 shares of Mexico Fund stock in a transaction dated Thursday, April 2nd. The stock was acquired at an average cost of $21.28 per share, with a total value of $229,824.00. Following the completion of the transaction, the insider directly owned 1,775,132 shares of the company's stock, valued at $37,774,808.96. This trade represents a 0.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more 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, March 20th, Saba Capital Management, L.P. bought 2,871 shares of Mexico Fund stock. The shares were bought at an average cost of $19.83 per share, for a total transaction of $56,931.93.
- On Wednesday, March 18th, Saba Capital Management, L.P. bought 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 bought at an average cost of $20.35 per share, with a total value of $9,279.60.
- On Tuesday, March 10th, Saba Capital Management, L.P. purchased 1,005 shares of Mexico Fund stock. The stock was bought at an average price 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 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. acquired 32,126 shares of Mexico Fund stock. The shares were bought 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 bought 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. bought 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. bought 550 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.29 per share, for a total transaction of $11,709.50.
Mexico Fund Stock Performance
Shares of MXF opened at $21.28 on Friday. The stock's 50-day moving average price is $21.54 and its 200 day moving average price is $20.31. Mexico Fund, Inc. has a 12-month low of $13.10 and a 12-month high of $23.00.
Mexico Fund Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd will be given 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 6.6%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Mexico Fund by 775.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock worth $27,000 after buying an additional 1,194 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of Mexico Fund by 92.3% in 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 buying an additional 1,200 shares in the last quarter. Scotia Capital Inc. acquired a new position in shares of Mexico Fund in the 2nd quarter valued at $196,000. Alpine Global Management LLC bought a new position in shares of Mexico Fund during the 3rd quarter worth about $265,000. Finally, Calamos Advisors LLC boosted its position in shares of 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 in the last quarter.
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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