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| 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
|
|
|---|---|---|---|---|---|
| -1.80 | -0.18% | 989.20 | 3,674,578 | 16:35:28 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 990.20 | 991.00 | 999.20 | 987.60 | 993.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Unit Inv Tr, Closed-end Mgmt | 1.24B | 1.22B | 1.0377 | 9.54 | 11.63B |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:49:28 | O | 348 | 730.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 20/6/2025 | 16:56 | UK RNS | Scottish Mortgage Inv Tst PLC Transaction in Own Shares |
| 20/6/2025 | 11:58 | UK RNS | Scottish Mortgage Inv Tst PLC Net Asset Value(s) |
| 19/6/2025 | 16:49 | UK RNS | Scottish Mortgage Inv Tst PLC Transaction in Own Shares |
| 19/6/2025 | 12:01 | UK RNS | Scottish Mortgage Inv Tst PLC Net Asset Value(s) |
| 18/6/2025 | 16:47 | UK RNS | Scottish Mortgage Inv Tst PLC Transaction in Own Shares |
| 18/6/2025 | 11:38 | UK RNS | Scottish Mortgage Inv Tst PLC Net Asset Value(s) |
| 17/6/2025 | 16:57 | UK RNS | Scottish Mortgage Inv Tst PLC Transaction in Own Shares |
| 17/6/2025 | 12:09 | UK RNS | Scottish Mortgage Inv Tst PLC Net Asset Value(s) |
| 16/6/2025 | 16:48 | UK RNS | Scottish Mortgage Inv Tst PLC Transaction in Own Shares |
| 16/6/2025 | 11:57 | UK RNS | Scottish Mortgage Inv Tst PLC Net Asset Value(s) |
Scottish Mortgage Invest... (SMT) Share Charts1 Year Scottish Mortgage Invest... Chart |
|
1 Month Scottish Mortgage Invest... Chart |
Intraday Scottish Mortgage Invest... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 19/6/2025 | 08:45 | scottish mortgage Inv. trust charts | 3,946 |
| 17/6/2025 | 11:58 | ScoMo ScoMo ScoMo and other BIG TECH | 228 |
| 02/1/2024 | 21:40 | Scottish Mortgage Trust | 8 |
| 29/9/2020 | 07:18 | Scottish Mortgage | 5 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2025-06-20 17:10:26 | 730.00 | 348 | 2,540.40 | O |
| 2025-06-20 17:09:41 | 772.40 | 474 | 3,661.18 | O |
| 2025-06-20 17:09:37 | 726.60 | 373 | 2,710.22 | O |
| 2025-06-20 17:09:33 | 736.20 | 330 | 2,429.46 | O |
| 2025-06-20 17:09:33 | 808.00 | 3,333 | 26,930.64 | O |
| Top Posts |
|---|
Posted at 21/6/2025 09:20 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 991p.Scottish Mortgage Invest... currently has 1,173,506,727 shares in issue. The market capitalisation of Scottish Mortgage Invest... is £11,617,716,597. Scottish Mortgage Invest... has a price to earnings ratio (PE ratio) of 9.54. This morning SMT shares opened at 993p |
Posted at 14/6/2025 13:56 by lord loads of lolly kenmitch - afraid your argument doesn’t stack up.You say: “We can never claim that buybacks were the reason for a share price going up because we don’t know, and will never know, how much the share price would have gone up with no buybacks”. By the same token, the opposite is also true: “We can never claim that buybacks WEREN’T the reason for a share price going up because we don’t know, and will never know, how much the share price would have gone up with no buybacks”. Seems pretty coincidental to me that following a longish period of the share price languishing around the £6-7 mark, it would suddenly rise to well over £9 within 12 months, just as the buybacks were being dramatically stepped up. SMT’s benchmark index rose by nothing like that amount over the same period. |
Posted at 13/6/2025 18:04 by kenmitch Those gains weren’t because of the buybacks but recovery of their investments after a spell of poor performance. We can never claim that buybacks were the reason for a share price going up because we don’t know, and will never know, how much the share price would have gone up with no buybacks. |
Posted at 13/6/2025 16:54 by lord loads of lolly kenmitch - it's not just about the NAV discount though, is it.As I've said before, we witnessed a significant buyback boost once activist investor Elliott came along in summer 2023. Immediately prior to their intervention, the share price had traded somewhere between 640p & 700p. Elliott lobbied for aggressive buybacks and was able to sell its stake less than a year later for 895p - so around 30% higher. The share price has since put on an additional 11% or so. Sure, many factors will have influenced this rise from the trough of summer 2023. But to imply that buybacks weren't amongst them is just disingenuous. As an investor, of course I'm interested in the NAV discount. But even more so in the share price & its trajectory. |
Posted at 13/6/2025 11:22 by steeplejack I'm not contradicting myself.A share buyback programme supports the share price.What i'm saying is that dividend hikes are a more effective way of supporting a stock price ie relatively more effective.As for Moderna.I'm reasonably certain ( having followed the percentage of the total SMT portfolio accounted for by Moderna)that the managers have stuck with the original ill-timed purchases made between 150-450 dollars.In fact,i think they might of averaged down when the price subsequently plummeted from the Covid inspired high.You're right though that all this speculation could be made quite unnecessary if we were told the numerical size of the stock holdings.But what would we have to quibble about then! |
Posted at 12/6/2025 17:10 by lord loads of lolly steeplejack - sorry to keep coming back, but I think you've just contradicted yourself.First you said: "Historically, surveys show that buying in your own stock hasn't been patently beneficial to the share price". Now you claim "I'm not saying that share buybacks don't support the share price" Make up your mind. Also, I'm not convinced when you say "analysing the percentage of the portfolio accounted for by Moderna can give you a pretty good (rule of thumb guide admittedly) to SMTs purchase history." Surely this would only apply if MRNA's share price had remained fairly static over time. But as you've correctly pointed out, that's far from the case. |
Posted at 12/6/2025 12:51 by steeplejack I'm not saying that share buybacks don't support the share price,i'm pointing out that studies- US ones primarily- by various sources have concluded that dividend increases are more effective at supporting stock prices.Whether those studies are correct,well who knows.Analysing the percentage of the portfolio accounted for by Moderna can give you a pretty good (rule of thumb guide admittedly) to SMTs purchase history.The fund started well enough acquiring Moderna at around 150 dollars and well below but pretty clearly added substantially to that holding as the price rocketed to the mid 400 bucks level.Anyway,Moderna has fallen well over 90 percent but the Moderna holding is still over one per cent of the portfolio so it doesn't look to me like SMT bit the bullet and sold stock on the contrary,they vindicated their decision by writing apologias of how the market failed to fully understand Moderna.Anyway,now Moderna is embroiled in geo political risk courtesy of the Trump administration.If you're going to back an investment trust with an ambitious and adventurous portfolio strategy,i think its inevitable that SMT might hit bumps in the road.Pays your money,makes your choice. I like the fact that SMT has an extensive private company portfolio and ultimately i think that'll really pay off. |
Posted at 12/6/2025 10:59 by lord loads of lolly steeplejack - Moderna has certainly proved costly for SMT in recent years.To determine how big a mistake it's been overall, you'd have to know the value & volume of each purchase & sale. I really wish SMT would change the format of its updates, showing holdings in terms of both percentage of total fund & total number of shares. That way, it would be easy to see whether % drops were primarily down to a company's share price decrease or a reduction in SMT's holding of that company. I'm not sure where you found the evidence that "Historically, surveys show that buying in your own stock hasn’t been patently beneficial to the share price actually,you would of done better hiking the dividend". Take a look at SMT's share price before Elliott started acquiring their stake in summer 2023. It traded somewhere between 640p & 700p. Elliott then lobbied the fund managers really hard to narrow the NAV discount via share buybacks etc. SMT promptly announced a £2bn buyback programme over the following two years and Elliott sold its stake less than a year after first acquiring it for 895p - so around 30% higher. The share price has since put on an additional 11% or so. Sure, many factors will have influenced this rise from the trough of summer 2023. But to argue that buybacks weren't amongst them is simply disingenuous. |
Posted at 11/6/2025 22:31 by steeplejack I guess it was SMTs unfortunate decision to plunge headfirst into purchases of Moderna that confirmed that sometimes you can get it very right (ie Tesla) but equally,even the titans of the investment world ,can get it very seriously wrong.Yet now,Moderna,having been SMTs largest holding accounting for over 10% of the portfolio has fallen to 25th position and the holding is really neither here nor there.Whether investors like it or not,it is fairly clear that it is the rather 'shadowy'world of SMTs private company holdings that are going to ultimately determine whether SMT regains its status as an upper quartile pathfinder in the realm of investment trusts because that perception has been severely tested in recent years.To have unlisted Space Exploration as your number one holding is both exciting and rather bizarre.However,in a world of cryptocurrencies and unbridled speculation,it might just be that SpaceX proves to be SMTs greatest asset and one which will eradicate over a time the discount to NAV that SMT has experienced over the last couple of years.Historically,s |
Posted at 05/6/2025 09:37 by lord loads of lolly shano2 - always two sides to the coin.Either you see buybacks as a waste of money & a lack of management conviction in acquiring any new investments. Or a sign the fund managers believe their current holdings are significantly undervalued (hence the NAV discount). And a desire to narrow this discount by reducing the number of shares in issue. Buybacks usually end up narrowing this discount, as witnessed last year when activist investor Elliott put pressure on SMT to do just that. Consequently, the share price re-rated significantly upwards. Personally I don't have a problem with buybacks, as they always tend to boost the share price (fewer shares in issue + holdings unchanged = higher share price). Admittedly, investing the same funds in new ventures might do the same - or indeed even more. But it comes with greater risk. That said, I agree the 14.99% upper limit is high. |
Posted at 04/7/2024 09:22 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. |
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