Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Buys 3,505 Shares of Stock

Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 3,505 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were acquired at an average price of $21.86 per share, with a total value of $76,619.30. Following the completion of the transaction, the insider directly owned 1,784,830 shares of the company's stock, valued at $39,016,383.80. This trade represents a 0.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large 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 Wednesday, April 22nd, Saba Capital Management, L.P. bought 100,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.83 per share, with a total value of $2,183,000.00.
• On Friday, April 17th, Saba Capital Management, L.P. purchased 179 shares of Mexico Fund stock. The stock was acquired at an average price of $22.00 per share, for a total transaction of $3,938.00.
• On Wednesday, April 8th, Saba Capital Management, L.P. purchased 2,200 shares of Mexico Fund stock. The shares were acquired at an average price of $22.17 per share, for a total transaction of $48,774.00.
• On Monday, April 6th, Saba Capital Management, L.P. acquired 3,814 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.23 per share, with a total value of $80,971.22.
• On Thursday, April 2nd, Saba Capital Management, L.P. acquired 10,800 shares of Mexico Fund stock. The stock was bought at an average price of $21.28 per share, with a total value of $229,824.00.
• On Friday, March 20th, Saba Capital Management, L.P. bought 2,871 shares of Mexico Fund stock. The stock was 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, for a total transaction of $101,900.00.
• On Friday, March 13th, Saba Capital Management, L.P. purchased 2,600 shares of Mexico Fund stock. The shares were 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 shares were 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, with a total value of $21,044.70.

Mexico Fund Stock Down 1.5%

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NYSE MXF opened at $21.35 on Friday. Mexico Fund, Inc. has a 52 week low of $15.21 and a 52 week high of $23.00. The stock's 50-day moving average price is $21.48 and its 200-day moving average price is $20.56.

Mexico Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Wednesday, April 22nd.

Hedge Funds Weigh In On Mexico Fund

Several large investors have recently added to or reduced their stakes in the company. North Ground Capital bought a new position in shares of Mexico Fund in the third quarter worth approximately $608,000. 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 valued at $49,000 after purchasing an additional 1,200 shares during the period. Calamos Advisors LLC raised 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 purchasing an additional 2,535 shares during the period. Uhlmann Price Securities LLC lifted its stake in shares of Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company's stock valued at $2,243,000 after buying an additional 2,013 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its holdings in Mexico Fund by 144.8% in the 4th quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company's stock worth $1,000,000 after buying an additional 29,377 shares during the period.

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.

Further Reading

• Five stocks we like better than Mexico Fund

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