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The silent action of foreign fund managers buying GOTO shares when they fall

Jakarta, CNBC Indonesia The weakening trend in the share price of PT GoTo Gojek Tokopedia Tbk (GOTO) has not deterred investors from taking wholesale stocks.

Since the opening of the lock-up period in early December 2022, GOTO’s share price has fallen by more than 50%. However, several overseas fund managers have actually taken advantage of this momentum to “add load”.

Referring to Refinitiv Datastream data, several names of foreign investors have bought GOTO shares since the end of October 2022.

First is Exchange Traded Concepts LLC, which purchased 1.6 million GOTO shares, bringing its total ownership to 46.31 million shares.

Then there’s State Street Global Advisors (US), which as of Nov. 30, 2022, was down 293.69 million shares or 0.02% of total shares outstanding after adding 15.35 million shares.

During the same reporting period, Penserra Capital Management LLC also recorded an increase in GOTO’s stock ownership from $9.62 million to $506.35 million or the equivalent of 0.04%.

Finally there is Mellon Investments Corporation, which purchased 110,000 GOTO shares, bringing its total ownership to 689.18 million or 0.06%.
Not long ago, the government of Singapore, represented by Citi Bank, suddenly appeared with a 5.8% stake in GOTO.

However, when referring to data on the flow of foreign funds into and out of GOTO shares, foreign investors are still net selling.

Within a week foreign investors sold GOTO shares for IDR 1.07 trillion. Meanwhile, if it is further withdrawn, foreigners will sell the net shares of GOTO for IDR 1.17 trillion in the last month.

Meanwhile, foreign investors recorded a net sale of IDR 859 billion in the past 3 months.


Disclaimer: This story is not intended to encourage readers to buy or sell the related stock. The investment decision is entirely yours and CNBC Indonesia is not liable for any loss or profit arising from such decision.

[Gambas:Video CNBC]

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