Insider Buying: Mexico Fund (NYSE:MXF) Major Shareholder Purchases $101,900.00 in Stock

Mexico Fund, Inc. (The) (NYSE:MXF) major shareholder Saba Capital Management, L.P. bought 5,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $20.38 per share, with a total value of $101,900.00. Following the completion of the acquisition, the insider directly owned 1,744,162 shares of the company’s stock, valued at approximately $35,546,021.56. The trade was a 0.29% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, March 13th, Saba Capital Management, L.P. purchased 2,600 shares of Mexico Fund stock. The stock was bought at an average price of $20.21 per share, for a total transaction of $52,546.00.
• On Thursday, March 12th, Saba Capital Management, L.P. acquired 456 shares of Mexico Fund stock. The shares were bought at an average cost of $20.35 per share, with a total value of $9,279.60.
• On Tuesday, March 10th, Saba Capital Management, L.P. acquired 1,005 shares of Mexico Fund stock. The shares were bought at an average price of $20.94 per share, with a total value of $21,044.70.
• On Thursday, March 5th, Saba Capital Management, L.P. acquired 4,480 shares of Mexico Fund stock. The shares were bought at an average price of $21.34 per share, with a total value of $95,603.20.
• On Friday, February 13th, Saba Capital Management, L.P. bought 32,126 shares of Mexico Fund stock. The stock was bought at an average cost of $22.69 per share, for a total transaction of $728,938.94.
• On Thursday, January 29th, Saba Capital Management, L.P. bought 3,115 shares of Mexico Fund stock. The stock was bought at an average cost of $21.97 per share, for a total transaction of $68,436.55.
• On Monday, January 26th, Saba Capital Management, L.P. purchased 1,000 shares of Mexico Fund stock. The shares were bought at an average price of $21.50 per share, with a total value of $21,500.00.
• On Wednesday, January 21st, Saba Capital Management, L.P. purchased 550 shares of Mexico Fund stock. The stock was bought at an average cost of $21.29 per share, with a total value of $11,709.50.
• On Monday, January 12th, Saba Capital Management, L.P. purchased 2,520 shares of Mexico Fund stock. The stock was purchased at an average price of $20.45 per share, for a total transaction of $51,534.00.
• On Friday, January 9th, Saba Capital Management, L.P. acquired 10 shares of Mexico Fund stock. The shares were purchased at an average cost of $20.24 per share, for a total transaction of $202.40.

Mexico Fund Stock Performance

NYSE:MXF opened at $19.62 on Monday. Mexico Fund, Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $23.00. The firm has a 50-day simple moving average of $21.62 and a two-hundred day simple moving average of $20.18.

Mexico Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.1%.

Hedge Funds Weigh In On Mexico Fund

Hedge funds have recently added to or reduced their stakes in the company. Scotia Capital Inc. purchased a new stake in Mexico Fund during the 2nd quarter valued at $196,000. Quantedge Capital Pte Ltd raised its stake in shares of Mexico Fund by 3.7% in the second quarter. Quantedge Capital Pte Ltd now owns 130,134 shares of the investment management company’s stock worth $2,286,000 after purchasing an additional 4,650 shares during the last quarter. Calamos Advisors LLC raised its stake in shares of Mexico Fund by 21.7% in the third quarter. Calamos Advisors LLC now owns 14,201 shares of the investment management company’s stock worth $280,000 after purchasing an additional 2,535 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Mexico Fund by 92.3% during the third quarter. Blue Bell Private Wealth Management LLC now owns 2,500 shares of the investment management company’s stock valued at $49,000 after purchasing an additional 1,200 shares in the last quarter. Finally, North Ground Capital bought a new position in shares of Mexico Fund during the third quarter valued at $608,000.

Mexico Fund Company Profile

The Mexico Fund, Inc (NYSE: MXF) is a closed-end management investment company that seeks long-term capital appreciation through exposure to Mexican securities. The fund primarily invests in equity instruments of companies organized or principally operating in Mexico, spanning a range of sectors such as financial services, consumer goods, industrials and energy. It may also allocate portions of its portfolio to fixed-income securities, including government and corporate bonds, when attractive opportunities arise.

Launched in 1991 and incorporated under Maryland law, The Mexico Fund offers U.S.