Key Points
- Saba Capital Management purchased 3,077 Mexico Fund shares at an average $21.34 each, spending $65,663.18. Its ownership rose 0.13% to 2,291,228 shares valued at approximately $48.9 million.
- The fund has made numerous additional purchases in recent weeks, signaling continued accumulation by its major shareholder. Mexico Fund shares opened at $21.80, near their 50-day and 200-day moving averages.
- Mexico Fund paid a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 dividend and a 6.4% yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $21.34 per share, for a total transaction of $65,663.18. Following the purchase, the insider owned 2,291,228 shares of the company's stock, valued at approximately $48,894,805.52. This trade represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large 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 Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The shares were acquired at an average price of $21.56 per share, with a total value of $56,228.48.
- On Wednesday, July 22nd, Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock. The shares were bought 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 bought 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 bought at an average price of $21.52 per share, for a total transaction of $4,304.00.
- On Monday, July 20th, Saba Capital Management, L.P. purchased 7,631 shares of Mexico Fund stock. The stock was bought at an average cost of $21.49 per share, for a total transaction of $163,990.19.
- On Wednesday, July 8th, Saba Capital Management, L.P. purchased 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. acquired 1,828 shares of Mexico Fund stock. The shares were bought at an average price of $21.73 per share, with a total value of $39,722.44.
- On Wednesday, June 24th, Saba Capital Management, L.P. acquired 5,100 shares of Mexico Fund stock. The stock was bought at an average cost of $21.31 per share, with a total value of $108,681.00.
- On Tuesday, June 23rd, Saba Capital Management, L.P. acquired 15,051 shares of Mexico Fund stock. The stock was bought at an average cost 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 price of $22.19 per share, for a total transaction of $27,981.59.
Mexico Fund Stock Up 0.5%
Shares of NYSE:MXF opened at $21.80 on Friday. The firm's 50 day simple moving average is $21.74 and its 200-day simple moving average is $21.62. Mexico Fund, Inc. has a one year low of $17.41 and a one year high of $23.00.
Mexico Fund Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Wednesday, July 22nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 22nd. This represents a $1.40 annualized dividend and a yield of 6.4%.
Hedge Funds Weigh In On Mexico Fund
Hedge funds and other institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. grew its position in shares of Mexico Fund by 32.4% during the 4th quarter. Saba Capital Management L.P. now owns 1,691,300 shares of the investment management company's stock worth $34,063,000 after buying an additional 413,606 shares in the last quarter. Marex Group plc bought a new stake in shares of Mexico Fund in the fourth quarter valued at about $1,926,000. North Ground Capital lifted its stake 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 worth $2,544,000 after acquiring an additional 95,443 shares during the period. Altium Capital Management LLC lifted its stake 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 worth $2,683,000 after acquiring an additional 79,898 shares during the period. Finally, Alpine Global Management LLC grew its holdings in Mexico Fund by 356.7% during the 4th quarter. Alpine Global Management LLC now owns 61,431 shares of the investment management company's stock worth $1,237,000 after acquiring an additional 47,979 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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