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

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

General American Investors Price Performance

GAM traded down $0.62 during midday trading on Friday, hitting $50.52. 22,291 shares of the company were exchanged, compared to its average volume of 30,027. The company’s 50 day simple moving average is $51.59 and its 200 day simple moving average is $52.14. General American Investors has a 1-year low of $44.54 and a 1-year high of $55.44.

General American Investors Cuts Dividend

The business also recently announced 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 yield of 0.9%. The ex-dividend date of this dividend was Monday, February 24th.

Insiders Place Their Bets

In other General American Investors news, VP Eugene S. Stark acquired 2,500 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price 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 of the company’s stock, valued at $362,500. The trade was a 20.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 3,827 shares of company stock valued at $95,641. 8.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its stake in shares of General American Investors by 19.2% during the 4th quarter. Park Avenue Securities LLC now owns 29,724 shares of the investment management company’s stock worth $1,516,000 after purchasing an additional 4,782 shares during the period. Capstone Investment Advisors LLC purchased a new position in General American Investors in the third quarter valued at $1,769,000. Stratos Wealth Partners LTD. raised its position in shares of General American Investors by 8.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,035 shares of the investment management company’s stock worth $257,000 after acquiring an additional 372 shares during the period. Savant Capital LLC raised its holdings in General American Investors by 8.1% in the 4th quarter. Savant Capital LLC now owns 9,221 shares of the investment management company’s stock worth $470,000 after purchasing an additional 689 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of General American Investors by 8.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the investment management company’s stock valued at $127,000 after buying an additional 197 shares in 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.