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SMT Scottish Mortgage Investment Trust Plc

940.20
0.40 (0.04%)
20 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Scottish Mortgage Investment Trust Plc LSE:SMT London Ordinary Share GB00BLDYK618 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.40 0.04% 940.20 5,080,197 16:35:16
Bid Price Offer Price High Price Low Price Open Price
944.60 945.00 948.40 921.00 932.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt 1.38B 1.37B 1.0628 8.89 12.08B
Last Trade Time Trade Type Trade Size Trade Price Currency
16:50:08 O 1,033,552 940.39 GBX

Scottish Mortgage Invest... (SMT) Latest News (4)

Scottish Mortgage Invest... (SMT) Discussions and Chat

Scottish Mortgage Invest... Forums and Chat

Date Time Title Posts
19/12/202413:57scottish mortgage Inv. trust charts3,793
02/1/202421:40Scottish Mortgage Trust8
06/6/202214:33ScoMo ScoMo ScoMo and other BIG TECH207
29/9/202006:18Scottish Mortgage5

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Scottish Mortgage Invest... (SMT) Most Recent Trades

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Trade Time Trade Price Trade Size Trade Value Trade Type

Scottish Mortgage Invest... (SMT) Top Chat Posts

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Posted at 21/12/2024 08:20 by Scottish Mortgage Invest... Daily Update
Scottish Mortgage Investment Trust Plc is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker SMT. The last closing price for Scottish Mortgage Invest... was 939.80p.
Scottish Mortgage Invest... currently has 1,285,246,434 shares in issue. The market capitalisation of Scottish Mortgage Invest... is £12,143,008,308.
Scottish Mortgage Invest... has a price to earnings ratio (PE ratio) of 8.89.
This morning SMT shares opened at 932p
Posted at 13/12/2024 11:43 by quepassa
According to reports from Bloomberg, SpaceX has now formally agreed a tender price two days ago for $1.5billion of SpaceX shares at $185 per share valuing the Company at $350billion.

SpaceX shares were last sold just a few months ago at a much lower price of $112.

Sooner or later, one would imagine that this new price of $185 will feed through to the valuations used by ScoMo and BGUSA for their holdings of SpaceX shares.

It is not clear to me whether this new share price for SpaceX will be reflected at one of ScoMo's regular revaluation dates or whether this new Tender will qualify as a "trigger event" which would allow for an earlier revaluation.

Either way, one would likely expect a big uplift in the value of ScoMo's holding of SpaceX in the not too distant future.

It is possible -if not likely- that after revaluation, SpaceX will become ScoMo's top holding - albeit that it is a private/unlisted company.



ALL IMO. DYOR.
QP
Posted at 05/12/2024 08:41 by steeplejack
Interesting comparison QP.The discount to assets for both ATT and Polar Capital remains around the 10%.As we all know,both Moderna and Northvolt have been the obvious handbrake on a more pronounced SMT price recovery this year.As much as one would like to believe that it'll all come right in time,its clear that sometimes SMT's more adventurous investments simply fall on very stony ground and that's implicit in the very nature of the fund ie Tesla was an inspired choice but others are not.When you have such a sizeable private company portfoilio,it makes you wander what else SMT has tucked away in that locker and it makes SMT enjoying a nil discount to assets (like BGUSA) unlikely.
Posted at 25/9/2024 10:29 by lord loads of lolly
caternia - yup, fingers crossed!

I guess your unhappy tale (to date) highlights the inherent problem for anyone investing in a more volatile fund/share.

Timing is critical. But it's also almost impossible to get right, being largely down to luck.

I'm fortunate, having first invested in SMT in 2016 when the share price was £3.26. I also took some money off the table when we hit £14 and again when we breached £15. But - with the benefit of hindsight - I've made some mistakes here too. Either by buying back in too early. Or by not maximising profits when the price was near its peak.

My main takeaway is that however attached you become to an investment, a certain amount of trading might be beneficial. I'm not suggesting day trading SMT - far from it. But because it's quite volatile, there can be more opportunities to lock in a decent profit, then buy back in 10% lower (assuming you still believe in the investment case). I know, because I've done it myself a few times over the past 2-3 years.

Best of luck anyway. Given you've a decent investment horizon, I suspect you'll still be OK here. But if you think it might help, maybe consider very occasional trading, as set out above.
Posted at 30/8/2024 19:52 by steeplejack
If you think that there are better opportunities elsewhere,you should cut your losses and invest elsewhere.Run your profits,cut your losses.However,in reality private investors often hold on until they get into profit creating a pool of stale bulls.Its human nature.That said,the NAV discount/premium to assets considerations clearly dominate all investment trust share price moves but I can’t see SMT enjoying a premium to NAV like it enjoyed some years back.I sold my SMT in my ISAs years back but still hold some in my dealing accounts.My loss making holding in SMT might well get sold to reduce a capital gains liability.Tax losses will become very valuable under a Labour tax regime.For now i hold on.Optimistically,i’m hoping developments in the private company portfolio might give the share price a fillip.I can’t see developments in the listed portfolio giving SMT a meaningful advantage over its peers like PCT etc in the foreseeable future.Not a satisfactory reply i know but i suppose i’m a seller into strength
Posted at 27/8/2024 18:13 by quepassa
1.

but indirectly you do - just like a physical shareholder

....because your spread bet is related to the share price which is in turn a reflection of the NAV. And the NAV in turn is derived from the value of the Trust.

The management fees are taken from the Trust and that's what you are betting on.

So when SMT deduct their rightful ongoing fees/charges etc, that reduces the NAV of The Trust which impacts the share price.


2.

Moreover with a long spread bet you are incurring hefty overnight funding charges which shareholders don't.

3.

As a final point, SMT's charges are very low fees for the sector - I don't think anyone would consider them in any way "ridiculous" as they are so very low.





Nothing at all wrong with spread-betting - indeed an excellent financial instrument in many ways- but it is a PROXY for the physical share and therefore mirrors the share and whatever makes the share move - including management charges.


all imo. dyor.
qp
Posted at 04/7/2024 08:22 by lord loads of lolly
shano2 - think we're going to have to agree to disagree on this one.

I regard the current share price more as a reflection of the historically higher than normal discount to NAV. Rather than an issue with the NAV alone.

The buyback announcement was intended to boost sentiment, narrow this discount & boost the share price. And it has - to an extent - succeeded in that. You only have to look at the graphs pre- & post- March 24 to see this.

SMT clearly isn't going to put all its money into treasury. But I don't have a problem with the managers buying back a MEASURED amount when they feel the share price is trading at an unwarranted discount to NAV. These situations are fluid and if the share price continues to recover, AFAIK there's nothing to stop SMT reissuing the treasury stock at a higher share price later on. Or indeed cancelling them to reduce the total number of shares in issue.

Similarly, once the £1bn buyback has completed, if it has had the desired effect (higher share price & lower discount to NAV), they can rest the policy. If it hasn't fully met their objectives (but has helped to some extent), they can either do more or look at alternatives.
Posted at 03/7/2024 14:32 by shano2
LLL the waste i was referring was was the money used for buybacks when i feel it should be invested. The share price gain is only a paper gain, it is only the dates of buying and selling that are of any importance.
As i said if buybacks helped the NAV why not put all the money into treasury. The share price would plummet. So with roughly 10% of the capital in treasury it means the remaining 90% has got to work harder as the 10% will not contribute to NAV growth. Look after the NAV and the share price will follow.
What do propose they should do when the 1 billion has been used up?
Posted at 03/7/2024 08:12 by shano2
What a complete waste and a drag on the potential of the NAV. I wonder what their plan is when they have spent the i billion? Spend another billion? If this was good for the NAV why not put all of the shares in treasury? what would happen to the share price then. Furthermore what will happen to the share price when they resell?
It looks to me that announcing this share buyback has been a gift to hedge funds who now know that if they short the share to increase the discount the company with buy back the shares to try and raise the share price. Rinse and repeat.
Posted at 02/4/2024 11:05 by lord loads of lolly
septblues - I don't see it that way (for now at least).

Elliott's stakebuilding has given SMT managers a bit of a wake up call. Before Elliott's intervention, the share price was languishing below £8.00. In just a couple of weeks, the discount to NAV has significantly narrowed as the share price has risen nearer to £9.00.

Sure it'll fluctuate. But the turbo-charged share buyback would almost certainly not have happened without Elliott's intervention (it hadn't, on anything like this scale, previously). And it's largely that buyback that has driven the share price higher.

Providing SMT managers stand their ground on the unlisted holdings, I'm currently quite relaxed about Elliott's shake up. Particularly if it means selling part of their Nvidia stake to fund future buybacks.
Posted at 19/11/2023 20:13 by loganair
hazl - How is JEMA the worse performing fund this year. Last November 2022 the share price stood at around 80p, today around 140p therefore the fund is up 75% over the past year therefore the -88.24% over the past year is complete misinformation and if deliberately posted then is disinformation.

I held JRS many many years ago and sold out just before the 2008 crash at just pennies from the top.

I rebought back in 2014 to 2016 and sold all but 15% of my holding at 2.5 times my buy in price.

I then bought the renames JRS - JEMA in 3 lots when the share price was in the late 50p's, late 60p's and mid 70p range and have therefore over doubled my money in JEMA over the past year - that's what investing is all about, making money from ones investments and that is what 'I've been successfully doing over the past 20 years in JRS/JEMA which has been my most profitable investment over my life time so far.


SMT - ARK invest which also invests in Tech and tech start ups say that the share price is unlikely to reach all time highs of $152 and even Cathy Wood says that Arks share price is likely to be around $95 in 5 years time therefore it seems highly unlikely that SMT will reach £15.68 high of November 2021.

There is more likelihood that SMT will fall below 600p over the next year.

The biggest mistake SMT had was holding on to their Moderna, should have sold out when the share price was $400, however seems to me they didn't because BG is by far Moderna's largest share holder and therefore just wanted to stick with their investment in the company.
Scottish Mortgage Invest... share price data is direct from the London Stock Exchange

Scottish Mortgage Invest... Frequently Asked Questions (FAQ)

What is the current Scottish Mortgage Invest... share price?
The current share price of Scottish Mortgage Invest... is 940.20p
How many Scottish Mortgage Invest... shares are in issue?
Scottish Mortgage Invest... has 1,285,246,434 shares in issue
What is the market cap of Scottish Mortgage Invest...?
The market capitalisation of Scottish Mortgage Invest... is GBP 12.08B
What is the 1 year trading range for Scottish Mortgage Invest... share price?
Scottish Mortgage Invest... has traded in the range of 733.80p to 987.60p during the past year
What is the PE ratio of Scottish Mortgage Invest...?
The price to earnings ratio of Scottish Mortgage Invest... is 8.89
What is the cash to sales ratio of Scottish Mortgage Invest...?
The cash to sales ratio of Scottish Mortgage Invest... is 8.82
What is the reporting currency for Scottish Mortgage Invest...?
Scottish Mortgage Invest... reports financial results in GBP
What is the latest annual turnover for Scottish Mortgage Invest...?
The latest annual turnover of Scottish Mortgage Invest... is GBP 1.38B
What is the latest annual profit for Scottish Mortgage Invest...?
The latest annual profit of Scottish Mortgage Invest... is GBP 1.37B
What is the registered address of Scottish Mortgage Invest...?
The registered address for Scottish Mortgage Invest... is CALTON SQUARE, 1 GREENSIDE ROW, EDINBURGH, EH1 3AN
Which industry sector does Scottish Mortgage Invest... operate in?
Scottish Mortgage Invest... operates in the TRUSTS sector