General American Investors (NYSE:GAM) Sees Unusually-High Trading Volume – Still a Buy?

General American Investors Company, Inc. (NYSE:GAM) saw unusually-high trading volume on Tuesday . Approximately 30,508 shares traded hands during mid-day trading, an increase of 64% from the previous session’s volume of 18,601 shares.The stock last traded at $52.42 and had previously closed at $52.25.

General American Investors Stock Performance

The firm has a 50 day moving average price of $51.68 and a two-hundred day moving average price of $52.14.

General American Investors Announces Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a yield of 0.8%.

Insiders Place Their Bets

In related news, CEO Jeffrey W. Priest acquired 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was bought at an average cost of $25.00 per share, with a total value of $150,000.00. Following the acquisition, the chief executive officer now directly owns 15,392 shares in the company, valued at approximately $384,800. The trade was a 63.88 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 7,250 shares of company stock worth $192,031 in the last three months. 8.30% of the stock is owned by insiders.

Hedge Funds Weigh In On General American Investors

Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in General American Investors by 122.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 686 shares of the investment management company’s stock valued at $34,000 after buying an additional 378 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in General American Investors in the second quarter worth $1,818,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in General American Investors during the third quarter valued at $513,000. Eastern Bank acquired a new stake in shares of General American Investors during the third quarter worth $92,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of General American Investors in the 3rd quarter worth about $422,000. Institutional investors own 36.85% of the company’s stock.

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.