Key Points
- Saba Capital Management, a major shareholder in Mexico Fund, bought 7,166 shares on May 21 at an average price of $21.67, spending about $155,287. After the purchase, it held 2,006,913 shares valued at roughly $43.5 million.
- The filing shows a series of recent insider purchases by Saba Capital over the prior weeks, including a much larger 100,000-share buy on April 22. This suggests sustained accumulation of MXF shares.
- Mexico Fund stock was up 1.8% and opened at $22.08, near its 52-week high of $23.00. The fund also recently paid a quarterly dividend of $0.35 per share, implying an annualized yield of about 6.3%.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 7,166 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $21.67 per share, for a total transaction of $155,287.22. Following the completion of the transaction, the insider owned 2,006,913 shares in the company, valued at $43,489,804.71. This trade represents a 0.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% 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, May 20th, Saba Capital Management, L.P. bought 4,610 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.68 per share, for a total transaction of $99,944.80.
- On Tuesday, May 19th, Saba Capital Management, L.P. bought 22,914 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.58 per share, for a total transaction of $494,484.12.
- On Monday, May 18th, Saba Capital Management, L.P. bought 18,586 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.59 per share, for a total transaction of $401,271.74.
- On Friday, May 15th, Saba Capital Management, L.P. bought 8,334 shares of Mexico Fund stock. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $183,348.00.
- On Thursday, May 14th, Saba Capital Management, L.P. purchased 33,108 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $728,376.00.
- On Wednesday, May 13th, Saba Capital Management, L.P. purchased 15,148 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.13 per share, for a total transaction of $335,225.24.
- On Tuesday, May 12th, Saba Capital Management, L.P. purchased 9,000 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.01 per share, for a total transaction of $198,090.00.
- On Thursday, May 7th, Saba Capital Management, L.P. purchased 3,000 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.82 per share, for a total transaction of $65,460.00.
- On Friday, May 1st, Saba Capital Management, L.P. purchased 217 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.33 per share, for a total transaction of $4,628.61.
- On Wednesday, April 22nd, Saba Capital Management, L.P. purchased 100,000 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.83 per share, for a total transaction of $2,183,000.00.
Mexico Fund Stock Up 1.8%
NYSE:MXF opened at $22.08 on Wednesday. Mexico Fund, Inc. has a one year low of $16.43 and a one year high of $23.00. The firm's fifty day moving average is $21.38 and its two-hundred day moving average is $20.97.
Mexico Fund Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Wednesday, April 22nd.
Institutional Investors Weigh In On Mexico Fund
Hedge funds have recently added to or reduced their stakes in the business. Altium Capital Management LLC purchased a new stake in Mexico Fund in the fourth quarter valued at $972,000. Allspring Global Investments Holdings LLC boosted its holdings in Mexico Fund by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company's stock valued at $20,548,000 after purchasing an additional 27,983 shares during the last quarter. Calamos Advisors LLC boosted its holdings in Mexico Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company's stock valued at $446,000 after purchasing an additional 2,535 shares during the last quarter. Uhlmann Price Securities LLC boosted its holdings in Mexico Fund by 1.9% in the first quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company's stock valued at $2,243,000 after purchasing an additional 2,013 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its holdings in Mexico Fund by 144.8% in the fourth quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company's stock valued at $1,000,000 after purchasing an additional 29,377 shares during 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.
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