Key Points
- Saba Capital Management, Mexico Fund’s major shareholder, bought 19,906 shares on June 5 at an average price of $21.64, lifting its stake to 2,185,387 shares worth about $47.3 million.
- The purchase continues a string of recent buys by Saba Capital, including multiple transactions in late May and early June, indicating sustained accumulation of Mexico Fund shares.
- Mexico Fund shares opened at $21.26, near their recent trading range, and the fund recently paid a quarterly dividend of $0.35 per share, equal to an annualized yield of about 6.6%.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 19,906 shares of the stock in a transaction dated Friday, June 5th. The shares were acquired at an average price of $21.64 per share, with a total value of $430,765.84. Following the completion of the acquisition, the insider owned 2,185,387 shares in the company, valued at approximately $47,291,774.68. This trade represents a 0.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Thursday, June 4th, Saba Capital Management, L.P. purchased 32,102 shares of Mexico Fund stock. The shares were acquired at an average price of $21.61 per share, with a total value of $693,724.22.
- On Wednesday, June 3rd, Saba Capital Management, L.P. purchased 31,949 shares of Mexico Fund stock. The shares were acquired at an average price of $22.16 per share, with a total value of $707,989.84.
- On Tuesday, June 2nd, Saba Capital Management, L.P. purchased 9,633 shares of Mexico Fund stock. The shares were acquired at an average price of $22.24 per share, with a total value of $214,237.92.
- On Monday, June 1st, Saba Capital Management, L.P. purchased 708 shares of Mexico Fund stock. The shares were acquired at an average price of $21.90 per share, with a total value of $15,505.20.
- On Friday, May 29th, Saba Capital Management, L.P. purchased 18,466 shares of Mexico Fund stock. The shares were acquired at an average price of $22.17 per share, with a total value of $409,391.22.
- On Thursday, May 28th, Saba Capital Management, L.P. purchased 6,700 shares of Mexico Fund stock. The shares were acquired at an average price of $22.16 per share, with a total value of $148,472.00.
- On Wednesday, May 27th, Saba Capital Management, L.P. purchased 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 Tuesday, May 26th, Saba Capital Management, L.P. bought 14,402 shares of Mexico Fund stock. The shares were purchased at an average price of $21.99 per share, with a total value of $316,699.98.
- On Thursday, May 21st, Saba Capital Management, L.P. bought 7,166 shares of Mexico Fund stock. The shares were purchased 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 purchased at an average price of $21.68 per share, with a total value of $99,944.80.
Mexico Fund Stock Performance
Shares of Mexico Fund stock opened at $21.26 on Tuesday. The business has a 50-day moving average of $21.68 and a 200 day moving average of $21.14. Mexico Fund, Inc. has a 12 month low of $16.43 and a 12 month high of $23.00.
Mexico Fund Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Wednesday, April 22nd.
Hedge Funds Weigh In On Mexico Fund
Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Mexico Fund by 775.3% during 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 during the period. Blue Bell Private Wealth Management LLC boosted its holdings in Mexico Fund by 109.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company's stock valued at $105,000 after acquiring an additional 2,735 shares during the period. Alpine Global Management LLC purchased a new position in Mexico Fund during the 3rd quarter valued at about $265,000. Calamos Advisors LLC boosted its holdings in Mexico Fund by 32.1% during the 4th quarter. Calamos Advisors LLC now owns 18,764 shares of the investment management company's stock valued at $378,000 after acquiring an additional 4,563 shares during the period. Finally, Scotia Capital Inc. boosted its stake 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 buying an additional 14,241 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.
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