Short Interest in General American Investors, Inc. (NYSE:GAM) Declines By 58.6%
by Jessica Moore · The Cerbat GemGeneral American Investors, Inc. (NYSE:GAM – Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 6,285 shares, a drop of 58.6% from the April 30th total of 15,176 shares. Based on an average trading volume of 27,362 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are sold short.
General American Investors Stock Performance
Shares of General American Investors stock traded up $0.35 during midday trading on Tuesday, hitting $64.19. The company’s stock had a trading volume of 20,539 shares, compared to its average volume of 25,757. The stock has a 50-day simple moving average of $62.60 and a 200-day simple moving average of $60.87. General American Investors has a 1-year low of $53.78 and a 1-year high of $66.18.
Insider Buying and Selling
In other news, VP Eugene S. Stark purchased 6,151 shares of the stock in a transaction dated Wednesday, April 8th. The shares were bought at an average cost of $24.86 per share, for a total transaction of $152,913.86. Following the transaction, the vice president owned 34,000 shares in the company, valued at $845,240. This trade represents a 22.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders purchased 10,662 shares of company stock valued at $265,178. 7.93% of the stock is owned by company insiders.
Institutional Trading of General American Investors
A number of hedge funds have recently modified their holdings of GAM. PNC Financial Services Group Inc. boosted its holdings in shares of General American Investors by 10.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,775 shares of the investment management company’s stock worth $163,000 after acquiring an additional 273 shares in the last quarter. Harbour Investments Inc. increased its holdings in General American Investors by 10.9% during the 4th quarter. Harbour Investments Inc. now owns 3,018 shares of the investment management company’s stock worth $177,000 after purchasing an additional 297 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in General American Investors by 6.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,041 shares of the investment management company’s stock worth $362,000 after purchasing an additional 350 shares in the last quarter. Prospera Financial Services Inc boosted its stake in shares of General American Investors by 10.9% during the 4th quarter. Prospera Financial Services Inc now owns 4,013 shares of the investment management company’s stock worth $236,000 after buying an additional 395 shares during the last quarter. Finally, Tompkins Financial Corp boosted its stake in shares of General American Investors by 10.9% during the 4th quarter. Tompkins Financial Corp now owns 5,103 shares of the investment management company’s stock worth $300,000 after buying an additional 501 shares during the last quarter. Institutional investors own 36.85% of the company’s stock.
About General American Investors
General American Investors Company, Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the ticker GAM. The firm primarily allocates capital to equity and equity-related securities of publicly traded companies, aiming to generate long-term capital appreciation for its shareholders. Its flexible mandate allows investment across a broad range of industries and market capitalizations.
The company follows a value-oriented, fundamental research approach, conducting in-depth analysis to identify undervalued businesses with strong growth potential.