Key Points
- Saba Capital Management purchased 7,631 Mexico Fund shares at an average price of $21.49, investing about $164,000 and increasing its stake by 0.34% to 2.28 million shares.
- The major shareholder has made multiple additional purchases in recent weeks, signaling continued accumulation of MXF shares.
- Mexico Fund shares opened at $21.52, while the fund declared a quarterly dividend of $0.35, equivalent to $1.40 annually and a 6.5% yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 7,631 shares of the stock in a transaction on Monday, July 20th. The stock was acquired at an average cost of $21.49 per share, for a total transaction of $163,990.19. Following the acquisition, the insider directly owned 2,277,306 shares in the company, valued at $48,939,305.94. This represents a 0.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Wednesday, July 22nd, Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.80 per share, with a total value of $166,181.40.
- On Thursday, July 23rd, Saba Capital Management, L.P. bought 414 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.11 per share, with a total value of $8,739.54.
- On Tuesday, July 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.52 per share, with a total value of $4,304.00.
- On Wednesday, July 8th, Saba Capital Management, L.P. purchased 522 shares of Mexico Fund stock. The stock was acquired at an average price of $21.26 per share, for a total transaction of $11,097.72.
- On Tuesday, July 7th, Saba Capital Management, L.P. purchased 1,828 shares of Mexico Fund stock. The stock was acquired at an average price 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 acquired 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. acquired 15,051 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.52 per share, for a total transaction of $323,897.52.
- On Thursday, June 18th, Saba Capital Management, L.P. acquired 1,261 shares of Mexico Fund stock. The stock was acquired at an average price 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 acquired 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. bought 29,500 shares of Mexico Fund stock. The stock was acquired at an average cost of $22.30 per share, with a total value of $657,850.00.
Mexico Fund Stock Performance
Shares of NYSE MXF opened at $21.52 on Wednesday. Mexico Fund, Inc. has a one year low of $17.41 and a one year high of $23.00. The company's fifty day moving average is $21.74 and its two-hundred day moving average is $21.61.
Mexico Fund Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be paid a $0.35 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.40 annualized dividend and a dividend yield of 6.5%.
Institutional Trading of Mexico Fund
Institutional investors have recently added to or reduced their stakes in the stock. Altium Capital Management LLC grew its position in Mexico Fund by 165.5% during the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock worth $2,683,000 after buying an additional 79,898 shares during the period. Saba Capital Management L.P. lifted its position in shares of Mexico Fund by 4.3% during the 1st quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company's stock valued at $36,927,000 after acquiring an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Mexico Fund by 2.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company's stock valued at $20,548,000 after acquiring an additional 27,983 shares during the period. Sit Investment Associates Inc. boosted its stake in shares of Mexico Fund by 144.8% during the 4th quarter. Sit Investment Associates Inc. now owns 49,669 shares of the investment management company's stock worth $1,000,000 after acquiring an additional 29,377 shares in the last quarter. Finally, Calamos Advisors LLC boosted its stake in shares of Mexico Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company's stock worth $446,000 after acquiring an additional 2,535 shares in 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.
Further Reading
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