Key Points
- Saba Capital Management acquired 6,403 Mexico Fund shares at an average price of $20.63, investing $132,093.89 and increasing its holdings to 2,310,578 shares valued at approximately $47.7 million.
- Mexico Fund shares opened at $21.23, compared with a 52-week range of $18.30 to $23.00. The fund’s 50-day and 200-day moving averages were $21.59 and $21.53, respectively.
- The fund declared a quarterly dividend of $0.35 per share, payable October 29 to shareholders of record October 21, representing an annualized payout of $1.40 and a 6.6% yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 6,403 shares of the firm's stock in a transaction on Wednesday, September 16th. The shares were bought at an average cost of $20.63 per share, for a total transaction of $132,093.89. Following the completion of the acquisition, the insider owned 2,310,578 shares of the company's stock, valued at approximately $47,667,224.14. This represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major 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 Tuesday, September 15th, Saba Capital Management, L.P. bought 459 shares of Mexico Fund stock. The stock was bought at an average price of $20.89 per share, for a total transaction of $9,588.51.
- On Thursday, August 13th, Saba Capital Management, L.P. bought 2,952 shares of Mexico Fund stock. The shares were bought at an average cost of $21.41 per share, with a total value of $63,202.32.
- On Tuesday, August 4th, Saba Capital Management, L.P. purchased 9,362 shares of Mexico Fund stock. The shares were bought at an average price of $22.19 per share, with a total value of $207,742.78.
- On Wednesday, July 29th, Saba Capital Management, L.P. purchased 3,077 shares of Mexico Fund stock. The stock was bought at an average cost of $21.34 per share, for a total transaction of $65,663.18.
- On Tuesday, July 28th, Saba Capital Management, L.P. acquired 2,608 shares of Mexico Fund stock. The stock was purchased at an average price of $21.56 per share, for a total transaction of $56,228.48.
- On Wednesday, July 22nd, Saba Capital Management, L.P. acquired 7,623 shares of Mexico Fund stock. The stock was purchased 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. acquired 414 shares of Mexico Fund stock. The shares were purchased 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. bought 200 shares of Mexico Fund stock. The shares were purchased 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. purchased 7,631 shares of Mexico Fund stock. The shares were purchased at an average price of $21.49 per share, with a total value of $163,990.19.
- On Wednesday, July 8th, Saba Capital Management, L.P. purchased 522 shares of Mexico Fund stock. The shares were purchased at an average price of $21.26 per share, with a total value of $11,097.72.
Mexico Fund Price Performance
NYSE MXF opened at $21.23 on Friday. The business has a fifty day moving average price of $21.59 and a 200 day moving average price of $21.53. Mexico Fund, Inc. has a one year low of $18.30 and a one year high of $23.00.
Mexico Fund Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.6%.
Hedge Funds Weigh In On Mexico Fund
Hedge funds and other institutional investors have recently modified their holdings of the business. Saba Capital Management L.P. grew its stake in 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Mexico Fund by 2.9% in 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 last quarter. Almitas Capital LLC purchased a new position in Mexico Fund in the 2nd quarter worth approximately $3,736,000. North Ground Capital purchased a new position in Mexico Fund in the 2nd quarter worth approximately $2,981,931. Finally, Altium Capital Management LLC boosted its holdings 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 during the last quarter.
About Mexico Fund
(
Get Free Report)
Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.
The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico's economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.
Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.
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