Key Points
- Saba Capital Management purchased 17,921 Mexico Fund shares at $20 each, investing $358,420 and increasing its ownership by 0.76% to 2,366,361 shares.
- The major shareholder has made multiple additional MXF purchases in recent weeks, indicating continued buying activity.
- Mexico Fund opened at $20.04, near the lower end of its $18.30–$23.00 52-week range, and declared a quarterly dividend of $0.35, representing a 7.0% annualized yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 1,573 shares of Mexico Fund stock in a transaction that occurred on Friday, October 2nd. The shares were purchased at an average cost of $19.74 per share, for a total transaction of $31,051.02. Following the purchase, the insider directly owned 2,367,934 shares of the company's stock, valued at approximately $46,743,017.16. This trade represents a 0.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 Thursday, October 1st, Saba Capital Management, L.P. bought 17,921 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.00 per share, with a total value of $358,420.00.
- On Wednesday, September 30th, Saba Capital Management, L.P. purchased 1,238 shares of Mexico Fund stock. The stock was acquired at an average price of $20.39 per share, with a total value of $25,242.82.
- On Monday, September 28th, Saba Capital Management, L.P. purchased 4,133 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.74 per share, for a total transaction of $85,718.42.
- On Friday, September 25th, Saba Capital Management, L.P. acquired 834 shares of Mexico Fund stock. The shares were acquired 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. acquired 1,049 shares of Mexico Fund stock. The shares were acquired at an average price of $20.69 per share, for a total transaction of $21,703.81.
- On Wednesday, September 23rd, Saba Capital Management, L.P. acquired 28,464 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.02 per share, with a total value of $598,313.28.
- On Tuesday, September 22nd, Saba Capital Management, L.P. bought 110 shares of Mexico Fund stock. The stock was acquired at an average price of $20.90 per share, with a total value of $2,299.00.
- On Monday, September 21st, Saba Capital Management, L.P. purchased 2,034 shares of Mexico Fund stock. The stock was 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. purchased 6,403 shares of Mexico Fund stock. The stock was 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 shares were bought at an average cost of $20.89 per share, with a total value of $9,588.51.
Mexico Fund Price Performance
MXF opened at $20.04 on Tuesday. The company's 50 day simple moving average is $21.36 and its 200 day simple moving average is $21.50. 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 announced a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 21st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Wednesday, October 21st.
Institutional Investors Weigh In On Mexico Fund
Several institutional investors and hedge funds have recently added to or reduced their stakes in MXF. Saba Capital Management L.P. raised 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 buying an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC increased its position 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 acquiring an additional 27,983 shares in the last quarter. Almitas Capital LLC acquired a new position in shares of Mexico Fund during the 2nd quarter valued at $3,736,000. North Ground Capital acquired a new position in shares of Mexico Fund during the 2nd quarter valued at $2,981,931. Finally, Altium Capital Management LLC boosted its position in 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 period.
About Mexico Fund
(
Get Free Report)
The Mexico Fund, Inc (NYSE: MXF) is a non-diversified, closed-end investment company focused on providing long-term capital appreciation through investments in securities of Mexican companies. The fund primarily invests in publicly traded equities, although it may also hold other investments that provide exposure to Mexico's economy and financial markets.
MXF offers investors a vehicle for gaining diversified exposure to Mexico across multiple industries and sectors. Its portfolio may include companies that operate in areas such as consumer goods, financial services, telecommunications, industrials, materials, and other segments of the Mexican economy.
See Also
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