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

General American Investors Company, Inc. (NYSE:GAM) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 35,000 shares, an increase of 224.1% from the November 30th total of 10,800 shares. Based on an average daily trading volume, of 34,400 shares, the days-to-cover ratio is currently 1.0 days.

Insiders Place Their Bets

In other General American Investors news, CEO Jeffrey W. Priest acquired 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $25.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the chief executive officer now directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders bought 6,573 shares of company stock worth $175,140. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On General American Investors

A number of institutional investors and hedge funds have recently modified their holdings of GAM. Wolverine Asset Management LLC raised its stake in shares of General American Investors by 22.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 68,305 shares of the investment management company’s stock worth $3,396,000 after buying an additional 12,663 shares during the last quarter. Shaker Financial Services LLC grew its position in shares of General American Investors by 41.9% in the second quarter. Shaker Financial Services LLC now owns 108,528 shares of the investment management company’s stock valued at $5,396,000 after purchasing an additional 32,065 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its stake in shares of General American Investors by 3.7% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 675,276 shares of the investment management company’s stock worth $33,575,000 after purchasing an additional 24,196 shares in the last quarter. Cornerstone Advisors LLC raised its position in shares of General American Investors by 24.8% during the 2nd quarter. Cornerstone Advisors LLC now owns 441,951 shares of the investment management company’s stock worth $21,974,000 after purchasing an additional 87,843 shares during the last quarter. Finally, Logan Stone Capital LLC lifted its stake in General American Investors by 69.3% in the 2nd quarter. Logan Stone Capital LLC now owns 64,946 shares of the investment management company’s stock valued at $3,229,000 after buying an additional 26,595 shares in the last quarter. Institutional investors and hedge funds own 36.85% of the company’s stock.

General American Investors Stock Performance

Shares of GAM traded up $0.03 during trading hours on Friday, reaching $51.42. The company had a trading volume of 26,749 shares, compared to its average volume of 28,365. General American Investors has a 12-month low of $41.88 and a 12-month high of $55.44. The firm has a 50 day simple moving average of $52.32 and a 200-day simple moving average of $51.80.

General American Investors Announces Dividend

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

About General American Investors

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.