Key Points
- Saba Capital Management purchased 9,362 MXF shares at an average price of $22.19, investing $207,742.78 and increasing its position by 0.41% to 2.30 million shares.
- The Mexico Fund’s shares opened at $21.84, near their 50-day and 200-day moving averages, and have traded between $17.81 and $23.00 over the past year.
- MXF recently paid a quarterly dividend of $0.35 per share, equivalent to a $1.40 annualized payout and a 6.4% yield; several institutional investors have also increased their holdings.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 9,362 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $22.19 per share, for a total transaction of $207,742.78. Following the completion of the acquisition, the insider directly owned 2,300,764 shares in the company, valued at approximately $51,053,953.16. This trade represents a 0.41% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 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 29th, Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock. The shares were purchased at an average price of $21.34 per share, with a total value of $65,663.18.
- On Tuesday, July 28th, Saba Capital Management, L.P. acquired 2,608 shares of Mexico Fund stock. The shares were purchased 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. acquired 7,623 shares of Mexico Fund stock. The stock was acquired at an average price of $21.80 per share, for a total transaction of $166,181.40.
- On Thursday, July 23rd, Saba Capital Management, L.P. purchased 414 shares of Mexico Fund stock. The shares were acquired at an average cost of $21.11 per share, for a total transaction of $8,739.54.
- On Tuesday, July 21st, Saba Capital Management, L.P. purchased 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 stock was bought at an average cost of $21.49 per share, with a total value of $163,990.19.
- On Wednesday, July 8th, Saba Capital Management, L.P. acquired 522 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.26 per share, with a total value of $11,097.72.
- On Tuesday, July 7th, Saba Capital Management, L.P. purchased 1,828 shares of Mexico Fund stock. The shares were acquired 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. bought 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 stock was bought at an average cost of $21.52 per share, for a total transaction of $323,897.52.
Mexico Fund Stock Up 0.4%
Shares of MXF stock opened at $21.84 on Friday. The company has a 50-day simple moving average of $21.71 and a 200 day simple moving average of $21.65. Mexico Fund, Inc. has a 52 week low of $17.81 and a 52 week high of $23.00.
Mexico Fund Announces Dividend
The company also recently declared 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 was Wednesday, July 22nd. This represents a $1.40 annualized dividend and a yield of 6.4%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in MXF. Saba Capital Management L.P. lifted its holdings in shares of 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 buying an additional 73,032 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Mexico Fund by 2.9% in the first 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 in the last quarter. Altium Capital Management LLC increased 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 acquiring an additional 79,898 shares during the period. North Ground Capital increased its position in Mexico Fund by 309.2% during 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. Finally, Uhlmann Price Securities LLC raised its stake in Mexico Fund by 1.9% in 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.
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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