Key Points
- Saba Capital Management continued accumulating Mexico Fund shares, including a 12,791-share purchase for about $254,285 on October 14. The article also reports a series of purchases through November 9 totaling 133,945 shares, bringing Saba’s disclosed holdings to 2,540,570 shares.
- Mexico Fund paid a quarterly dividend of $0.35 per share; the annualized payout is $1.40, equivalent to a reported 6.6% yield.
- MXF opened at $21.06, with a 50-day moving average of $20.69 and a 200-day average of $21.42. Its reported 52-week range was $18.62 to $23.00.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 12,791 shares of the company's stock in a transaction on Wednesday, October 14th. The stock was purchased at an average cost of $19.88 per share, for a total transaction of $254,285.08. Following the completion of the transaction, the insider owned 2,406,625 shares in the company, valued at approximately $47,843,705. The trade was a 0.53% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large 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 Monday, November 9th, Saba Capital Management, L.P. acquired 4,365 shares of Mexico Fund stock. The stock was purchased at an average price of $21.06 per share, for a total transaction of $91,926.90.
- On Friday, November 6th, Saba Capital Management, L.P. acquired 18,250 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.75 per share, with a total value of $378,687.50.
- On Thursday, November 5th, Saba Capital Management, L.P. acquired 24,115 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.72 per share, with a total value of $499,662.80.
- On Wednesday, November 4th, Saba Capital Management, L.P. bought 15,011 shares of Mexico Fund stock. The shares were purchased at an average price of $20.95 per share, with a total value of $314,480.45.
- On Tuesday, November 3rd, Saba Capital Management, L.P. bought 13,804 shares of Mexico Fund stock. The shares were purchased at an average price of $20.54 per share, with a total value of $283,534.16.
- On Monday, November 2nd, Saba Capital Management, L.P. bought 200 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.51 per share, for a total transaction of $4,102.00.
- On Friday, October 30th, Saba Capital Management, L.P. bought 15,143 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.25 per share, for a total transaction of $306,645.75.
- On Thursday, October 29th, Saba Capital Management, L.P. purchased 23,901 shares of Mexico Fund stock. The stock was acquired at an average price of $20.11 per share, for a total transaction of $480,649.11.
- On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,121 shares of Mexico Fund stock. The stock was acquired at an average price of $20.13 per share, for a total transaction of $22,565.73.
- On Thursday, October 22nd, Saba Capital Management, L.P. purchased 2,000 shares of Mexico Fund stock. The shares were acquired at an average cost of $20.14 per share, with a total value of $40,280.00.
Mexico Fund Stock Up 0.1%
NYSE:MXF opened at $21.06 on Wednesday. The stock has a 50-day simple moving average of $20.69 and a 200-day simple moving average of $21.42. Mexico Fund, Inc. has a 1 year low of $18.62 and a 1 year high of $23.00.
Mexico Fund Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 21st were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, October 21st. This represents a $1.40 annualized dividend and a yield of 6.6%.
Hedge Funds Weigh In On Mexico Fund
Hedge funds have recently added to or reduced their stakes in the stock. City of London Investment Management Co. Ltd. increased its stake in Mexico Fund by 0.6% in the third quarter. City of London Investment Management Co. Ltd. now owns 3,230,491 shares of the investment management company's stock valued at $65,870,000 after purchasing an additional 19,166 shares during the last quarter. Saba Capital Management L.P. lifted its position in shares of 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 worth $36,927,000 after buying an additional 73,032 shares during the last quarter. 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 worth $20,548,000 after buying an additional 27,983 shares during the last quarter. Almitas Capital LLC purchased a new stake in shares of Mexico Fund during the 2nd quarter worth approximately $3,736,000. Finally, North Ground Capital purchased a new stake in shares of Mexico Fund during the 2nd quarter worth approximately $2,981,931.
Trending Headlines about Mexico Fund
Here are the key news stories impacting Mexico Fund this week:
- Positive Sentiment: Saba Capital Management, L.P. reported a series of 12 purchases from October 14 through November 9, adding 133,945 MXF shares and bringing its disclosed holdings to 2,540,570 shares. The sustained accumulation may indicate confidence in the fund. SEC filing for latest purchases SEC filing for earlier purchases
Mexico Fund Company Profile
(
Get Free Report)
The Mexico Fund, Inc. (NYSE: MXF) is a closed-end investment company focused on providing investors with exposure to Mexico's financial markets. Its primary objective is long-term capital appreciation through investments in securities issued by Mexican companies and other issuers with substantial business activities in Mexico. The fund generally invests in a diversified portfolio of Mexican equities across industries such as financial services, consumer products, telecommunications, industrials, materials and infrastructure.
Read More
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].
