Key Points
- Saba Capital Management acquired 834 Mexico Fund shares at an average price of $20.74, increasing its position by 0.04% to 2.34 million shares valued at approximately $48.6 million.
- The investment firm has made multiple additional purchases in recent weeks, including 28,464 shares on September 23, indicating continued accumulation of MXF stock.
- Mexico Fund declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 6.8% yield; the payment is scheduled for October 29 to shareholders of record on October 21.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 834 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The shares were bought at an average price of $20.74 per share, with a total value of $17,297.16. Following the acquisition, the insider directly owned 2,343,069 shares of the company's stock, valued at $48,595,251.06. The trade was a 0.04% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Thursday, September 24th, Saba Capital Management, L.P. acquired 1,049 shares of Mexico Fund stock. The stock was bought at an average cost of $20.69 per share, for a total transaction of $21,703.81.
- On Wednesday, September 23rd, Saba Capital Management, L.P. bought 28,464 shares of Mexico Fund stock. The stock was bought at an average price of $21.02 per share, for a total transaction of $598,313.28.
- On Tuesday, September 22nd, Saba Capital Management, L.P. bought 110 shares of Mexico Fund stock. The shares were bought at an average cost of $20.90 per share, with a total value of $2,299.00.
- On Monday, September 21st, Saba Capital Management, L.P. bought 2,034 shares of Mexico Fund stock. The shares were bought at an average cost of $21.03 per share, with a total value of $42,775.02.
- On Wednesday, September 16th, Saba Capital Management, L.P. purchased 6,403 shares of Mexico Fund stock. The shares were bought at an average price of $20.63 per share, with a total value of $132,093.89.
- On Tuesday, September 15th, Saba Capital Management, L.P. purchased 459 shares of Mexico Fund stock. The stock was bought at an average cost of $20.89 per share, for a total transaction of $9,588.51.
- On Thursday, August 13th, Saba Capital Management, L.P. acquired 2,952 shares of Mexico Fund stock. The stock was purchased at an average price of $21.41 per share, for a total transaction of $63,202.32.
- On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The stock was purchased at an average price of $22.19 per share, for a total transaction of $207,742.78.
- On Wednesday, July 29th, Saba Capital Management, L.P. acquired 3,077 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.34 per share, with a total value of $65,663.18.
- On Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.56 per share, with a total value of $56,228.48.
Mexico Fund Price Performance
NYSE:MXF opened at $20.70 on Tuesday. The business has a fifty day simple moving average of $21.49 and a two-hundred day simple moving average of $21.51. Mexico Fund, Inc. has a 1 year low of $18.30 and a 1 year high of $23.00.
Mexico Fund Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 21st will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, October 21st. This represents a $1.40 annualized dividend and a dividend yield of 6.8%.
Institutional Investors Weigh In On Mexico Fund
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXF. Saba Capital Management L.P. lifted 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 valued at $36,927,000 after purchasing an additional 73,032 shares during the last quarter. Allspring Global Investments Holdings LLC increased 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 worth $20,548,000 after purchasing an additional 27,983 shares in the last quarter. Almitas Capital LLC purchased a new position in shares of Mexico Fund in the second quarter worth about $3,736,000. North Ground Capital purchased a new position in shares of Mexico Fund in the second quarter worth about $2,981,931. Finally, Altium Capital Management LLC raised its position in shares of 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 valued at $2,683,000 after purchasing an additional 79,898 shares during the period.
Mexico Fund Company Profile
(
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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