Key Points
- Saba Capital Management bought 1,238 Mexico Fund shares at an average $20.39, investing $25,242.82 and increasing its ownership to 2,348,440 shares valued at approximately $47.9 million.
- The major shareholder has made multiple additional purchases since mid-September, including 28,464 shares on September 23, signaling continued accumulation of MXF stock.
- Mexico Fund shares opened at $19.89, down 2.4%, while the fund declared a quarterly dividend of $0.35 per share, equivalent to a 7.0% annualized yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 1,238 shares of the stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average price of $20.39 per share, for a total transaction of $25,242.82. Following the completion of the acquisition, the insider directly owned 2,348,440 shares of the company's stock, valued at $47,884,691.60. The trade was a 0.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more 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 Monday, September 28th, Saba Capital Management, L.P. bought 4,133 shares of Mexico Fund stock. The shares were acquired at an average price of $20.74 per share, with a total value of $85,718.42.
- On Friday, September 25th, Saba Capital Management, L.P. bought 834 shares of Mexico Fund stock. The shares were acquired at an average price of $20.74 per share, with a total value of $17,297.16.
- On Thursday, September 24th, Saba Capital Management, L.P. bought 1,049 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.69 per share, with a total value of $21,703.81.
- On Wednesday, September 23rd, Saba Capital Management, L.P. purchased 28,464 shares of Mexico Fund stock. The stock was acquired 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. purchased 110 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.90 per share, for a total transaction of $2,299.00.
- On Monday, September 21st, Saba Capital Management, L.P. purchased 2,034 shares of Mexico Fund stock. The shares were acquired at an average cost 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 acquired 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. acquired 459 shares of Mexico Fund stock. The stock was bought at an average price 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 bought at an average cost of $21.41 per share, for a total transaction of $63,202.32.
- On Tuesday, August 4th, Saba Capital Management, L.P. bought 9,362 shares of Mexico Fund stock. The stock was bought at an average cost of $22.19 per share, for a total transaction of $207,742.78.
Mexico Fund Trading Down 2.4%
MXF opened at $19.89 on Friday. The business's 50-day simple moving average is $21.41 and its 200 day simple moving average is $21.51. Mexico Fund, Inc. has a 52-week low of $18.30 and a 52-week high of $23.00.
Mexico Fund Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $1.40 annualized dividend and a dividend yield of 7.0%.
Institutional Investors Weigh In On Mexico Fund
Large investors have recently made changes to their positions in the stock. Susquehanna International Group LLP acquired a new position in Mexico Fund during the second quarter worth $215,000. Public Employees Retirement System of Ohio acquired a new stake in Mexico Fund in the second quarter valued at $2,266,000. Almitas Capital LLC acquired a new stake in Mexico Fund in the second quarter valued at $3,736,000. North Ground Capital bought a new position in shares of Mexico Fund in the 2nd quarter valued at about $2,981,931. Finally, Hudson Portfolio Management LLC bought a new position in shares of Mexico Fund in the 2nd quarter valued at about $784,000.
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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