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

General American Investors Company, Inc. (NYSE:GAM) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 4,300 shares, a growth of 104.8% from the February 13th total of 2,100 shares. Based on an average daily volume of 26,700 shares, the days-to-cover ratio is currently 0.2 days.

Insider Buying and Selling at General American Investors

In other General American Investors news, VP Eugene S. Stark purchased 2,500 shares of General American Investors stock in a transaction dated 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 acquisition, the vice president now directly owns 14,500 shares of the company’s stock, valued at $362,500. This represents a 20.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey W. Priest purchased 6,000 shares of General American Investors stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost 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 in the company, valued at approximately $384,800. This trade represents a 63.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 10,000 shares of company stock worth $249,957. 8.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General American Investors

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Saba Capital Management L.P. raised its holdings in General American Investors by 42.6% during the fourth quarter. Saba Capital Management L.P. now owns 1,464,300 shares of the investment management company’s stock worth $74,694,000 after purchasing an additional 437,632 shares during the last quarter. First Manhattan CO. LLC. raised its holdings in General American Investors by 8.4% during the fourth quarter. First Manhattan CO. LLC. now owns 5,581 shares of the investment management company’s stock worth $285,000 after purchasing an additional 434 shares during the last quarter. Cetera Investment Advisers raised its holdings in General American Investors by 78.7% during the fourth quarter. Cetera Investment Advisers now owns 17,011 shares of the investment management company’s stock worth $868,000 after purchasing an additional 7,492 shares during the last quarter. Capstone Investment Advisors LLC raised its holdings in General American Investors by 8.6% during the fourth quarter. Capstone Investment Advisors LLC now owns 35,841 shares of the investment management company’s stock worth $1,828,000 after purchasing an additional 2,841 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of General American Investors by 3.0% in the fourth quarter. First Trust Advisors LP now owns 36,230 shares of the investment management company’s stock worth $1,848,000 after acquiring an additional 1,051 shares during the last quarter. 36.85% of the stock is owned by institutional investors and hedge funds.

General American Investors Stock Up 1.2 %

Shares of GAM traded up $0.58 during mid-day trading on Friday, hitting $49.75. The company’s stock had a trading volume of 20,619 shares, compared to its average volume of 29,252. The firm has a 50-day simple moving average of $51.74 and a 200 day simple moving average of $52.25. 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 company also recently disclosed 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a yield of 0.9%.

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.