General American Investors (NYSE:GAM) Reaches New 12-Month High – Time to Buy?

General American Investors, Inc. (NYSE:GAM)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $64.40 and last traded at $64.1210, with a volume of 6412 shares traded. The stock had previously closed at $63.67.

General American Investors Stock Performance

The company has a 50 day simple moving average of $62.44 and a two-hundred day simple moving average of $58.11.

General American Investors Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 26th. Stockholders of record on Monday, November 17th will be paid a $6.40 dividend. This is an increase from General American Investors’s previous annual dividend of $0.45. This represents a dividend yield of 1,018.0%. The ex-dividend date of this dividend is Monday, November 17th.

Hedge Funds Weigh In On General American Investors

Institutional investors have recently bought and sold shares of the company. Shaker Financial Services LLC purchased a new stake in shares of General American Investors in the 1st quarter valued at approximately $7,990,000. Royal Bank of Canada raised its position in General American Investors by 38.3% in the first quarter. Royal Bank of Canada now owns 195,963 shares of the investment management company’s stock valued at $9,871,000 after purchasing an additional 54,223 shares during the period. Jones Financial Companies Lllp lifted its stake in General American Investors by 79,052.6% during the first quarter. Jones Financial Companies Lllp now owns 45,117 shares of the investment management company’s stock worth $2,106,000 after purchasing an additional 45,060 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of General American Investors by 10.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 367,595 shares of the investment management company’s stock worth $20,600,000 after buying an additional 33,338 shares during the period. Finally, King Luther Capital Management Corp acquired a new stake in shares of General American Investors in the third quarter valued at $1,438,000. 36.85% of the stock is owned by hedge funds and other institutional investors.

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.