Key Points
- Saba Capital Management bought 4,133 Mexico Fund shares at $20.74 each, investing $85,718.42 and increasing its ownership to 2,347,202 shares valued at approximately $48.7 million.
- The Mexico Fund’s shares opened at $20.61, below their 50-day and 200-day moving averages, with a 52-week range of $18.30 to $23.00.
- Mexico Fund announced a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 6.8% yield; shareholders of record on October 21 will receive payment on October 29.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 4,133 shares of the firm's stock in a transaction dated Monday, September 28th. The stock was bought at an average cost of $20.74 per share, with a total value of $85,718.42. Following the acquisition, the insider owned 2,347,202 shares in the company, valued at approximately $48,680,969.48. This trade represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Friday, September 25th, Saba Capital Management, L.P. bought 834 shares of Mexico Fund stock. The stock was bought at an average price of $20.74 per share, for a total transaction of $17,297.16.
- On Thursday, September 24th, Saba Capital Management, L.P. bought 1,049 shares of Mexico Fund stock. The shares were 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. purchased 28,464 shares of Mexico Fund stock. The shares were bought at an average price of $21.02 per share, with a total value of $598,313.28.
- On Tuesday, September 22nd, Saba Capital Management, L.P. purchased 110 shares of Mexico Fund stock. The stock was 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. acquired 2,034 shares of Mexico Fund stock. The stock was bought at an average price of $21.03 per share, for a total transaction of $42,775.02.
- On Wednesday, September 16th, Saba Capital Management, L.P. acquired 6,403 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.63 per share, for a total transaction of $132,093.89.
- On Tuesday, September 15th, Saba Capital Management, L.P. bought 459 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.89 per share, with a total value of $9,588.51.
- On Thursday, August 13th, Saba Capital Management, L.P. bought 2,952 shares of Mexico Fund stock. The stock was purchased at an average price 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 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. purchased 3,077 shares of Mexico Fund stock. The shares were purchased at an average price of $21.34 per share, for a total transaction of $65,663.18.
Mexico Fund Stock Down 0.4%
MXF opened at $20.61 on Wednesday. The company has a fifty day moving average of $21.47 and a two-hundred day moving average of $21.51. Mexico Fund, Inc. has a fifty-two week low of $18.30 and a fifty-two week 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 given a dividend of $0.35 per share. The ex-dividend date is Wednesday, October 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.8%.
Hedge Funds Weigh In On Mexico Fund
A number of hedge funds have recently bought and sold shares of MXF. Saba Capital Management L.P. grew its holdings in Mexico Fund by 4.3% in 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 period. Allspring Global Investments Holdings LLC lifted 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 valued at $20,548,000 after buying an additional 27,983 shares in the last quarter. Almitas Capital LLC purchased a new position in shares of Mexico Fund during the 2nd quarter valued at approximately $3,736,000. North Ground Capital acquired a new stake in Mexico Fund in the 2nd quarter valued at $2,981,931. Finally, Altium Capital Management LLC grew its stake in Mexico Fund by 165.5% in the 1st quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company's stock valued at $2,683,000 after acquiring 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
