General American Investors Company, Inc. (NYSE:GAM) Short Interest Update

General American Investors Company, Inc. (NYSE:GAM) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 4,300 shares, an increase of 104.8% from the February 13th total of 2,100 shares. Based on an average trading volume of 26,700 shares, the short-interest ratio is presently 0.2 days.

Insider Activity

In other General American Investors news, VP Eugene S. Stark purchased 2,500 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $62,500.00. Following the completion of the purchase, the vice president now directly owns 14,500 shares in the company, valued at approximately $362,500. This represents a 20.83 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey W. Priest acquired 6,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $150,000.00. Following the acquisition, the chief executive officer now owns 15,392 shares of the company’s stock, valued at approximately $384,800. The trade was a 63.88 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 10,000 shares of company stock worth $249,957. Corporate insiders own 8.33% of the company’s stock.

Hedge Funds Weigh In On General American Investors

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Saba Capital Management L.P. boosted its holdings in General American Investors by 42.6% in the 4th quarter. Saba Capital Management L.P. now owns 1,464,300 shares of the investment management company’s stock valued at $74,694,000 after purchasing an additional 437,632 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in General American Investors by 31.9% in the 3rd quarter. Pathstone Holdings LLC now owns 330,584 shares of the investment management company’s stock valued at $17,731,000 after purchasing an additional 79,975 shares in the last quarter. Sit Investment Associates Inc. boosted its holdings in General American Investors by 35.9% in the 4th quarter. Sit Investment Associates Inc. now owns 239,050 shares of the investment management company’s stock valued at $12,194,000 after purchasing an additional 63,197 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in General American Investors by 139.7% in the 4th quarter. Advisors Asset Management Inc. now owns 66,603 shares of the investment management company’s stock valued at $3,397,000 after purchasing an additional 38,814 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in General American Investors by 19.8% in the 4th quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company’s stock valued at $11,328,000 after purchasing an additional 36,746 shares in the last quarter. Hedge funds and other institutional investors own 36.85% of the company’s stock.

General American Investors Price Performance

NYSE GAM opened at $49.75 on Friday. General American Investors has a 52-week low of $44.54 and a 52-week high of $55.44. The business’s 50-day moving average price is $51.71 and its 200 day moving average price is $52.24.

General American Investors Cuts Dividend

The business also recently declared a — dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a dividend yield of 0.9%. The ex-dividend date was Monday, February 24th.

General American Investors Company Profile

General American Investors Company, Inc is a publicly owned investment manager. The firm invests in the public equity markets of United States. It invests in growth stocks of companies. It makes investments in Information Technology, Financials, Consumer Staples, Consumer Discretionary, Retailing, Communication Services, Industrials, Health Care, Energy and Materials.