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[Nueva York, 28 de Reuters]- Game stops for video game sales in the United States have risen more than 360% this week due to the purchase of individual investors, but some funds have benefited from the increase in the company’s shares. It seems to be limited to mutual funds (ETFs).
Wedbush ETFMG Video Game Tech ETF ($ 189 million in assets under management) was up over 16.1% on the 27th. The rate of increase since the beginning of the week reached around 25%.
SPDR S & P Retail ETFs ($ 758 million in assets under management) are also up 12%, up 21.9% since the start of the week.
However, there are relatively few mutual funds that own GameStop shares, and not many funds have benefited from the increase in the shares.
According to Ripper data, only 367 mutual funds held GameStop shares in the latest report. There were 2,151 mutual funds with the best stocks competing with GameStop.
Analysts noted that the rise in GameStop shares was due in part to the low ownership rate of mutual funds.
Todd Rosenbruce, director of research firm CFRA, said: “Shares held by institutional investors are often the main long-term investment destinations and are likely to increase the stability of share prices. Individual investors Hot money can come in and out at a relatively fast rate for high-ownership stocks. “
Few major funds have improved their overall investment performance by holding GameStop shares.
According to Ripper data, the Fidelity Intrinsic Opportunities Fund owns 9.75% of GameStop’s outstanding shares, but represents only 0.64% of the fund’s assets under management … Investment performance since the beginning of 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 also represent 0.03% of assets under management.
BlackRock, the world’s largest asset management company, owned approximately 9.2 million GameStop shares at the end of last year. Had it not been sold since then, the value of its holdings would have risen by $ 2.4 billion since the beginning of the year.
