General American Investors Company, Inc. (NYSE:GAM) Sees Large Growth in Short Interest

General American Investors Company, Inc. (NYSE:GAM) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 9,000 shares, an increase of 109.3% from the February 28th total of 4,300 shares. Based on an average daily volume of 26,600 shares, the days-to-cover ratio is presently 0.3 days.

General American Investors Price Performance

NYSE GAM traded down $0.62 on Friday, hitting $50.52. The stock had a trading volume of 22,291 shares, compared to its average volume of 30,027. The business’s fifty day moving average price is $51.59 and its 200 day moving average price is $52.14. General American Investors has a 52-week low of $44.54 and a 52-week high of $55.44.

General American Investors Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a dividend yield of 0.9%.

Insider Activity at General American Investors

In other news, VP Eugene S. Stark purchased 2,500 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $25.00 per share, with a total value of $62,500.00. Following the completion of the transaction, the vice president now owns 14,500 shares in the company, valued at $362,500. This represents a 20.83 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 3,827 shares of company stock valued at $95,641 over the last quarter. 8.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GAM. Saba Capital Management L.P. raised its position in shares of 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 during the last quarter. Blue Bell Private Wealth Management LLC increased its stake in General American Investors by 0.6% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 718,133 shares of the investment management company’s stock valued at $36,632,000 after purchasing an additional 4,256 shares in the last quarter. Sit Investment Associates Inc. raised its holdings in shares of General American Investors by 35.9% in the fourth quarter. Sit Investment Associates Inc. now owns 239,050 shares of the investment management company’s stock worth $12,194,000 after buying an additional 63,197 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of General American Investors by 19.8% during the fourth quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company’s stock worth $11,328,000 after buying an additional 36,746 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of General American Investors by 139.7% during the fourth quarter. Advisors Asset Management Inc. now owns 66,603 shares of the investment management company’s stock valued at $3,397,000 after buying an additional 38,814 shares during the last quarter. 36.85% of the stock is owned by institutional investors and hedge funds.

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.