Key Points
- Saba Capital Management, a major shareholder in Mexico Fund, bought 22,914 shares on May 19 for about $494,484 at an average price of $21.58. After the purchase, it held 1,995,137 shares, increasing its stake by 1.16%.
- The firm has been making multiple recent purchases of MXF shares, including several buys in mid- and late-May and a larger 100,000-share purchase on April 22. This points to sustained accumulation by the shareholder.
- Mexico Fund shares recently traded around $21.65, near the middle of their 52-week range of $16.22 to $23.00. The fund also paid a quarterly dividend of $0.35 per share, equal to an annualized yield of about 6.5%.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 4,610 shares of Mexico Fund stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $21.68 per share, with a total value of $99,944.80. Following the purchase, the insider directly owned 1,999,747 shares in the company, valued at approximately $43,354,514.96. This trade represents a 0.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% 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 Tuesday, May 19th, Saba Capital Management, L.P. acquired 22,914 shares of Mexico Fund stock. The stock was acquired at an average price of $21.58 per share, with a total value of $494,484.12.
- On Monday, May 18th, Saba Capital Management, L.P. acquired 18,586 shares of Mexico Fund stock. The stock was acquired at an average price of $21.59 per share, with a total value of $401,271.74.
- On Friday, May 15th, Saba Capital Management, L.P. acquired 8,334 shares of Mexico Fund stock. The stock was acquired at an average price of $22.00 per share, with a total value of $183,348.00.
- On Thursday, May 14th, Saba Capital Management, L.P. acquired 33,108 shares of Mexico Fund stock. The stock was acquired at an average price of $22.00 per share, with a total value of $728,376.00.
- On Wednesday, May 13th, Saba Capital Management, L.P. acquired 15,148 shares of Mexico Fund stock. The stock was acquired at an average price of $22.13 per share, with a total value of $335,225.24.
- On Tuesday, May 12th, Saba Capital Management, L.P. acquired 9,000 shares of Mexico Fund stock. The stock was acquired at an average price of $22.01 per share, with a total value of $198,090.00.
- On Thursday, May 7th, Saba Capital Management, L.P. acquired 3,000 shares of Mexico Fund stock. The stock was acquired at an average price of $21.82 per share, with a total value of $65,460.00.
- On Friday, May 1st, Saba Capital Management, L.P. acquired 217 shares of Mexico Fund stock. The stock was acquired at an average price of $21.33 per share, with a total value of $4,628.61.
- On Wednesday, April 22nd, Saba Capital Management, L.P. purchased 100,000 shares of Mexico Fund stock. The shares were purchased at an average price of $21.83 per share, with a total value of $2,183,000.00.
- On Tuesday, April 21st, Saba Capital Management, L.P. purchased 3,505 shares of Mexico Fund stock. The shares were purchased at an average price of $21.86 per share, with a total value of $76,619.30.
Mexico Fund Trading Down 0.6%
MXF stock opened at $21.65 on Friday. Mexico Fund, Inc. has a fifty-two week low of $16.22 and a fifty-two week high of $23.00. The stock has a fifty day moving average of $21.30 and a 200-day moving average of $20.92.
Mexico Fund Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.5%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in MXF. Uhlmann Price Securities LLC grew its stake in shares of Mexico Fund by 2.5% during the 3rd quarter. Uhlmann Price Securities LLC now owns 104,067 shares of the investment management company's stock worth $2,050,000 after acquiring an additional 2,583 shares during the period. Scotia Capital Inc. raised its holdings in shares of Mexico Fund by 127.8% in the 3rd quarter. Scotia Capital Inc. now owns 25,381 shares of the investment management company's stock valued at $500,000 after acquiring an additional 14,241 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Mexico Fund by 21.7% in the 3rd quarter. Verition Fund Management LLC now owns 99,508 shares of the investment management company's stock valued at $1,960,000 after acquiring an additional 17,747 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Mexico Fund in the 3rd quarter valued at about $265,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Mexico Fund by 775.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock valued at $27,000 after acquiring an additional 1,194 shares in the last quarter.
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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