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 in 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 trading volume, of 26,700 shares, the short-interest ratio is presently 0.2 days.

Insider Activity at General American Investors

In other news, CEO Jeffrey W. Priest acquired 6,000 shares of General American Investors stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $150,000.00. Following the acquisition, the chief executive officer now directly owns 15,392 shares of the company’s stock, valued at $384,800. This trade represents a 63.88 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Eugene S. Stark purchased 2,500 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $62,500.00. Following the purchase, the vice president now directly owns 14,500 shares of the company’s stock, valued at approximately $362,500. The trade was a 20.83 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 10,000 shares of company stock worth $249,957. Company insiders own 8.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Saba Capital Management L.P. boosted 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 buying an additional 437,632 shares in the last quarter. First Manhattan CO. LLC. boosted 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 buying an additional 434 shares in the last quarter. Cetera Investment Advisers boosted 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 buying an additional 7,492 shares in the last quarter. Capstone Investment Advisors LLC boosted 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 buying an additional 2,841 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in General American Investors by 3.0% during the fourth quarter. First Trust Advisors LP now owns 36,230 shares of the investment management company’s stock worth $1,848,000 after buying an additional 1,051 shares in the last quarter. Hedge funds and other institutional investors own 36.85% of the company’s stock.

General American Investors Trading Up 1.2 %

Shares of General American Investors stock traded up $0.58 during trading on Friday, hitting $49.75. 20,619 shares of the company’s stock were exchanged, compared to its average volume of 29,209. The business 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 52-week low of $44.54 and a 52-week high of $55.44.

General American Investors Cuts Dividend

The firm 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a dividend yield of 0.9%.

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.