General American Investors Company, Inc. (NYSE:GAM) Director Sells $49,660.00 in Stock

General American Investors Company, Inc. (NYSE:GAM) Director Arthur G. Altschul, Jr. sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $24.83, for a total transaction of $49,660.00. Following the sale, the director now directly owns 24,400 shares of the company’s stock, valued at $605,852. This represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

General American Investors Stock Performance

Shares of NYSE:GAM opened at $46.94 on Friday. The firm has a 50 day simple moving average of $51.25 and a 200 day simple moving average of $52.05. General American Investors Company, Inc. 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. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a dividend yield of 0.9%.

Institutional Trading of General American Investors

Hedge funds and other institutional investors have recently modified their holdings of the business. Saba Capital Management L.P. boosted its holdings in shares of 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 period. Sit Investment Associates Inc. boosted its stake in shares of General American Investors by 35.9% during the 4th quarter. Sit Investment Associates Inc. now owns 239,050 shares of the investment management company’s stock valued at $12,194,000 after buying an additional 63,197 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of General American Investors by 139.7% during the 4th quarter. Advisors Asset Management Inc. now owns 66,603 shares of the investment management company’s stock valued at $3,397,000 after acquiring an additional 38,814 shares in the last quarter. Cohen & Steers Inc. increased its stake in shares of General American Investors by 19.8% in the fourth quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company’s stock worth $11,328,000 after acquiring an additional 36,746 shares during the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of General American Investors during the fourth quarter worth $1,564,000. Institutional investors and hedge funds own 36.85% of the company’s stock.

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.