Gruma (OTCMKTS:GPAGF) Stock Price Down 12.1% – Here’s What Happened

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

Gruma Stock Down 12.1%

The firm has a fifty day simple moving average of $18.10 and a 200 day simple moving average of $18.11.

Hedge Funds Weigh In On Gruma

An institutional investor recently bought a new stake in Gruma stock. McMillan Office Inc. purchased a new position in shares of Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,600 shares of the company’s stock, valued at approximately $476,000. Hedge funds and other institutional investors own 19.30% of the company’s stock.

Gruma Company Profile

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.