Key Points
- Saba Capital Management, a major shareholder in Mexico Fund, bought 1,828 shares on July 7 at an average price of $21.73, increasing its stake to 2,261,962 shares worth about $49.15 million.
- The firm has been actively buying Mexico Fund shares in recent weeks, including additional purchases on July 8 and several times throughout June, signaling continued accumulation.
- Mexico Fund recently declared a quarterly dividend of $0.35 per share, payable July 30, which works out to an annualized yield of about 6.5%.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 522 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was bought at an average cost of $21.26 per share, with a total value of $11,097.72. Following the acquisition, the insider owned 2,262,484 shares of the company's stock, valued at approximately $48,100,409.84. The trade was a 0.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Tuesday, July 7th, Saba Capital Management, L.P. acquired 1,828 shares of Mexico Fund stock. The shares were bought at an average cost of $21.73 per share, for a total transaction of $39,722.44.
- On Wednesday, June 24th, Saba Capital Management, L.P. acquired 5,100 shares of Mexico Fund stock. The shares were bought at an average cost of $21.31 per share, for a total transaction of $108,681.00.
- On Tuesday, June 23rd, Saba Capital Management, L.P. bought 15,051 shares of Mexico Fund stock. The stock was bought at an average price of $21.52 per share, with a total value of $323,897.52.
- On Thursday, June 18th, Saba Capital Management, L.P. bought 1,261 shares of Mexico Fund stock. The stock was bought at an average cost of $22.19 per share, with a total value of $27,981.59.
- On Wednesday, June 17th, Saba Capital Management, L.P. bought 4,037 shares of Mexico Fund stock. The stock was bought at an average cost of $22.23 per share, with a total value of $89,742.51.
- On Friday, June 12th, Saba Capital Management, L.P. purchased 29,500 shares of Mexico Fund stock. The shares were bought at an average price of $22.30 per share, for a total transaction of $657,850.00.
- On Thursday, June 11th, Saba Capital Management, L.P. purchased 5,117 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.60 per share, for a total transaction of $110,527.20.
- On Wednesday, June 10th, Saba Capital Management, L.P. purchased 11,081 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.39 per share, for a total transaction of $237,022.59.
- On Tuesday, June 9th, Saba Capital Management, L.P. acquired 3,600 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.14 per share, with a total value of $76,104.00.
- On Friday, June 5th, Saba Capital Management, L.P. acquired 19,906 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.64 per share, with a total value of $430,765.84.
Mexico Fund Stock Performance
Mexico Fund stock opened at $21.39 on Friday. The company has a 50-day moving average price of $21.78 and a 200 day moving average price of $21.50. Mexico Fund, Inc. has a 12-month low of $16.57 and a 12-month high of $23.00.
Mexico Fund Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Wednesday, July 22nd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.5%.
Institutional Trading of Mexico Fund
Several institutional investors have recently made changes to their positions in MXF. Saba Capital Management L.P. lifted its holdings in Mexico Fund by 32.4% in the fourth quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company's stock valued at $34,063,000 after acquiring an additional 413,606 shares during the last quarter. Marex Group plc acquired a new stake in Mexico Fund during the fourth quarter worth $1,926,000. North Ground Capital raised its position in Mexico Fund by 309.2% in the fourth quarter. North Ground Capital now owns 126,312 shares of the investment management company's stock valued at $2,544,000 after purchasing an additional 95,443 shares during the period. Altium Capital Management LLC raised its position in Mexico Fund by 165.5% in the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock valued at $2,683,000 after purchasing an additional 79,898 shares during the period. Finally, Alpine Global Management LLC raised its position in Mexico Fund by 356.7% in the fourth quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company's stock valued at $1,237,000 after purchasing an additional 47,979 shares during the period.
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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