Gruma (OTCMKTS:GPAGF) Trading Down 12.1% – What’s Next?

Shares of Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) traded down 12.1% during trading on Monday . The company traded as low as $16.2550 and last traded at $16.2550. Approximately 427 shares traded hands during trading, a decline of 47% from the average daily volume of 805 shares. The stock had previously closed at $18.50.

Gruma Price Performance

The firm has a 50-day moving average of $18.10 and a two-hundred day moving average of $18.11.

Hedge Funds Weigh In On Gruma

A hedge fund recently bought a new position in Gruma stock. McMillan Office Inc. acquired a new stake in Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,600 shares of the company’s stock, valued at approximately $476,000. 19.30% of the stock is currently owned by institutional investors and hedge funds.

About Gruma

Gruma, SAB. de C.V. is a Mexico-based multinational food processing company and one of the world’s leading producers of corn flour and tortillas. The company’s core business activities include the manufacture, marketing and sale of corn flour, wheat flour and related products under a portfolio of well-known brands such as Maseca, Mission and Guerrero. Gruma also produces and distributes a variety of flatbreads, snack foods and bakery items tailored to both retail consumers and the foodservice industry.

Founded in 1949 by Roberto González Barrera, Gruma has grown from a single tortilla plant in Monterrey into a global enterprise.