[New York, 28th Reuters]–Gamestops for US video game sales have risen more than 360% this week due to individual investor buying, but some funds have benefited from the rise in the company’s stocks. It seems to be limited to investment trusts (ETFs).
Wedbush ETFMG Video Game Tech ETF ($ 189 million in assets under management) rose more than 16.1% on the 27th. The rate of increase from the beginning of the week reached about 25%.
SPDR S & P Retail ETFs ($ 758 million in assets under management) have also risen 12%, up 21.9% since the beginning of the week.
However, there are relatively few mutual funds that hold GameStop shares, and not many funds have benefited from the surge in shares.
According to Ripper’s data, only 367 mutual funds held GameStop shares in the latest report. There were 2151 mutual funds holding the best buy stocks competing with GameStop.
Analysts pointed out that the surge in GameStop shares was partly due to the low ownership ratio of mutual funds.
Todd Rosenbruce, director of research firm CFRA, said, “Stocks that are widely held by institutional investors are often the main long-term investment destinations and are likely to increase the stability of stock prices. Individual investors Hot money can flow in and out at a relatively rapid pace for stocks with a high ownership ratio. “
There are few major funds that have improved their overall investment performance by holding GameStop shares.
According to Ripper’s data, the Fidelity Intrinsic Opportunities Fund holds 9.75% of GameStop’s outstanding shares, but accounts for only 0.64% of the fund’s assets under management. .. The investment performance since the beginning of the year was + 5.6%, which is about 1.5 percentage points lower than the rate of increase of the Russell 2000 Index.
According to Ripper, GameStop shares held by the BlackRock Advantage Small Cap Core Fund are also 0.03% of assets under management.
BlackRock, the world’s largest asset management company, holds approximately 9.2 million shares of GameStop as of the end of last year. If it hadn’t been sold since then, the value of its holdings would have increased by $ 2.4 billion since the beginning of the year.
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