Key Points
- Saba Capital Management bought 31,698 Mexico Fund shares at an average $21.33 apiece, a $676,118 purchase that increased its position by 1.25% to 2.58 million shares.
- The major shareholder has also made a series of additional purchases in recent trading sessions, including buys of 24,115 shares on November 5 and 18,250 shares on November 6.
- Mexico Fund paid a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a reported yield of 6.6%.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 3,762 shares of the stock in a transaction on Tuesday, November 10th. The shares were bought at an average price of $21.05 per share, with a total value of $79,190.10. Following the purchase, the insider directly owned 2,544,332 shares of the company's stock, valued at $53,558,188.60. The trade was a 0.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Wednesday, November 11th, Saba Capital Management, L.P. bought 31,698 shares of Mexico Fund stock. The stock was bought at an average cost of $21.33 per share, for a total transaction of $676,118.34.
- On Monday, November 9th, Saba Capital Management, L.P. bought 4,365 shares of Mexico Fund stock. The stock was bought at an average cost 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 price of $20.75 per share, with a total value of $378,687.50.
- On Thursday, November 5th, Saba Capital Management, L.P. purchased 24,115 shares of Mexico Fund stock. The shares were purchased at an average price of $20.72 per share, for a total transaction of $499,662.80.
- On Wednesday, November 4th, Saba Capital Management, L.P. purchased 15,011 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.95 per share, with a total value of $314,480.45.
- On Tuesday, November 3rd, Saba Capital Management, L.P. acquired 13,804 shares of Mexico Fund stock. The stock was 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. acquired 200 shares of Mexico Fund stock. The stock was purchased at an average price of $20.51 per share, with a total value of $4,102.00.
- On Friday, October 30th, Saba Capital Management, L.P. acquired 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. bought 23,901 shares of Mexico Fund stock. The shares were 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. bought 1,121 shares of Mexico Fund stock. The stock was acquired at an average cost of $20.13 per share, with a total value of $22,565.73.
Mexico Fund Price Performance
Mexico Fund stock opened at $21.11 on Friday. Mexico Fund, Inc. has a 12 month low of $18.62 and a 12 month high of $23.00. The stock has a fifty day simple moving average of $20.68 and a two-hundred day simple moving average of $21.42.
Mexico Fund Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 21st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, October 21st. This represents a $1.40 annualized dividend and a dividend yield of 6.6%.
Hedge Funds Weigh In On Mexico Fund
A number of hedge funds have recently bought and sold shares of MXF. City of London Investment Management Co. Ltd. lifted its stake in Mexico Fund by 0.6% during the 3rd 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 acquiring an additional 19,166 shares during the period. Saba Capital Management L.P. raised its holdings in shares of 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 lifted its position in Mexico Fund by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company's stock valued at $20,548,000 after purchasing an additional 27,983 shares during the period. Almitas Capital LLC bought a new position in Mexico Fund during the second quarter valued at approximately $3,736,000. Finally, North Ground Capital purchased a new stake in Mexico Fund in the second quarter worth approximately $2,981,931.
About Mexico Fund
(
Get Free Report)
The Mexico Fund, Inc. is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of Mexican companies. Its portfolio provides investors with exposure to businesses operating in Mexico across a range of industries. Established in 1981, the fund is focused on the Mexican market rather than operating businesses or providing products and services directly. Its investment adviser is Impulsora del Fondo México, S.A. de C.V.
Further Reading
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