Key Points
- Saba Capital Management, Mexico Fund’s major shareholder, bought 44,608 shares at an average price of $22.27 per share, adding nearly $993,420 to its position. After the purchase, it owned 2,065,923 shares, a 2.21% increase in its stake.
- The insider has been actively buying MXF shares in multiple transactions over recent days, including several larger purchases on May 19, May 14, and May 18. This suggests continued confidence from the fund’s largest shareholder.
- Mexico Fund shares were trading around $22.35, near the stock’s 52-week high of $23.00. The fund also recently paid a quarterly dividend of $0.35, equal to an annualized yield of about 6.3%.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 14,402 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $21.99 per share, with a total value of $316,699.98. Following the completion of the acquisition, the insider directly owned 2,021,315 shares in the company, valued at $44,448,716.85. This represents a 0.72% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large 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 Wednesday, May 27th, Saba Capital Management, L.P. bought 44,608 shares of Mexico Fund stock. The shares were acquired at an average price of $22.27 per share, with a total value of $993,420.16.
- On Thursday, May 21st, Saba Capital Management, L.P. bought 7,166 shares of Mexico Fund stock. The shares were acquired at an average price of $21.67 per share, with a total value of $155,287.22.
- On Wednesday, May 20th, Saba Capital Management, L.P. bought 4,610 shares of Mexico Fund stock. The shares were acquired at an average price of $21.68 per share, with a total value of $99,944.80.
- On Tuesday, May 19th, Saba Capital Management, L.P. bought 22,914 shares of Mexico Fund stock. The shares were 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. bought 18,586 shares of Mexico Fund stock. The shares were 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. bought 8,334 shares of Mexico Fund stock. The shares were 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. bought 33,108 shares of Mexico Fund stock. The shares were 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. bought 15,148 shares of Mexico Fund stock. The shares were 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. bought 9,000 shares of Mexico Fund stock. The shares were 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. bought 3,000 shares of Mexico Fund stock. The shares were acquired at an average price of $21.82 per share, with a total value of $65,460.00.
Mexico Fund Trading Up 0.2%
Shares of NYSE MXF opened at $22.35 on Friday. Mexico Fund, Inc. has a 12 month low of $16.43 and a 12 month high of $23.00. The company has a 50-day simple moving average of $21.45 and a 200-day simple moving average of $21.02.
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 issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.3%.
Institutional Investors Weigh In On Mexico Fund
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Uhlmann Price Securities LLC grew its holdings in Mexico Fund by 1.0% in the fourth quarter. Uhlmann Price Securities LLC now owns 105,141 shares of the investment management company's stock valued at $2,118,000 after purchasing an additional 1,074 shares during the period. Farther Finance Advisors LLC grew its holdings in Mexico Fund by 775.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,348 shares of the investment management company's stock valued at $27,000 after purchasing an additional 1,194 shares during the period. Calamos Advisors LLC grew 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 period. Blue Bell Private Wealth Management LLC grew its holdings in Mexico Fund by 109.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company's stock valued at $105,000 after purchasing an additional 2,735 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in Mexico Fund in the third quarter valued at approximately $265,000.
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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