Key Points
- Saba Capital Management purchased 2,608 Mexico Fund shares at an average $21.56 each, spending $56,228.48. Its position rose 0.11% to 2,288,151 shares valued at approximately $49.3 million.
- Mexico Fund shares opened at $21.28, down 0.8%, and have traded between $17.41 and $23.00 over the past year. The fund also declared a quarterly dividend of $0.35, equivalent to an annualized yield of 6.6%.
- Several institutional investors increased their Mexico Fund holdings during the first quarter, including Saba Capital, Allspring Global Investments, Calamos Advisors, Altium Capital Management, and Uhlmann Price Securities.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 2,608 shares of the business's stock in a transaction on Tuesday, July 28th. The stock was bought at an average cost of $21.56 per share, for a total transaction of $56,228.48. Following the purchase, the insider owned 2,288,151 shares of the company's stock, valued at approximately $49,332,535.56. This represents a 0.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 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, July 22nd, Saba Capital Management, L.P. purchased 7,623 shares of Mexico Fund stock. The stock was bought at an average price of $21.80 per share, with a total value of $166,181.40.
- On Thursday, July 23rd, Saba Capital Management, L.P. purchased 414 shares of Mexico Fund stock. The stock was bought at an average price of $21.11 per share, with a total value of $8,739.54.
- On Tuesday, July 21st, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The shares were bought at an average cost of $21.52 per share, with a total value of $4,304.00.
- On Monday, July 20th, Saba Capital Management, L.P. acquired 7,631 shares of Mexico Fund stock. The shares were bought at an average price of $21.49 per share, for a total transaction of $163,990.19.
- On Wednesday, July 8th, Saba Capital Management, L.P. acquired 522 shares of Mexico Fund stock. The stock was bought at an average cost of $21.26 per share, for a total transaction of $11,097.72.
- On Tuesday, July 7th, Saba Capital Management, L.P. bought 1,828 shares of Mexico Fund stock. The stock was bought at an average cost of $21.73 per share, with a total value of $39,722.44.
- On Wednesday, June 24th, Saba Capital Management, L.P. bought 5,100 shares of Mexico Fund stock. The shares were purchased at an average price of $21.31 per share, with a total value of $108,681.00.
- On Tuesday, June 23rd, Saba Capital Management, L.P. purchased 15,051 shares of Mexico Fund stock. The stock was purchased at an average price 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 shares were purchased 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 purchased at an average cost of $22.23 per share, for a total transaction of $89,742.51.
Mexico Fund Stock Down 0.8%
NYSE:MXF opened at $21.28 on Thursday. Mexico Fund, Inc. has a twelve month low of $17.41 and a twelve month high of $23.00. The business has a 50 day moving average price of $21.73 and a two-hundred day moving average price of $21.61.
Mexico Fund Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%.
Hedge Funds Weigh In On Mexico Fund
Hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. raised its holdings in Mexico Fund by 4.3% during the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company's stock worth $36,927,000 after acquiring an additional 73,032 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 worth $20,548,000 after purchasing an additional 27,983 shares during the last quarter. Calamos Advisors LLC increased its position 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 purchasing an additional 2,535 shares during the last quarter. Altium Capital Management LLC raised its stake in shares of Mexico Fund by 165.5% during the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock worth $2,683,000 after purchasing an additional 79,898 shares in the last quarter. Finally, Uhlmann Price Securities LLC raised its stake in shares of Mexico Fund by 1.9% during the 1st quarter. Uhlmann Price Securities LLC now owns 107,154 shares of the investment management company's stock worth $2,243,000 after purchasing an additional 2,013 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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