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

General American Investors, Inc. (NYSE:GAM) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 8,142 shares, a growth of 3,143.8% from the August 31st total of 251 shares. Based on an average daily volume of 16,856 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s shares are short sold.

Insider Activity

In other General American Investors news, VP Eugene S. Stark bought 5,000 shares of General American Investors stock in a transaction that occurred on Wednesday, September 23rd. The shares were purchased at an average cost of $22.75 per share, for a total transaction of $113,750.00. Following the completion of the transaction, the vice president owned 39,000 shares of the company’s stock, valued at $887,250. This represents a 14.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Grassi purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average cost of $23.08 per share, for a total transaction of $46,160.00. Following the completion of the purchase, the insider owned 3,100 shares in the company, valued at $71,548. The trade was a 181.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 15,000 shares of company stock valued at $350,950 over the last quarter. Company insiders own 7.93% of the company’s stock.

Hedge Funds Weigh In On General American Investors

Several institutional investors and hedge funds have recently bought and sold shares of the stock. 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 valued at $163,000 after purchasing an additional 273 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of General American Investors during the 2nd quarter worth $169,000. Harbour Investments Inc. increased its holdings in shares of 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 buying an additional 297 shares during the last quarter. Quad Cities Investment Group LLC purchased a new position in shares of General American Investors in the 2nd quarter worth $207,000. Finally, Prospera Financial Services Inc boosted its holdings in General American Investors by 10.9% in the fourth quarter. Prospera Financial Services Inc now owns 4,013 shares of the investment management company’s stock valued at $236,000 after acquiring an additional 395 shares during the last quarter. Institutional investors and hedge funds own 36.85% of the company’s stock.

General American Investors Trading Up 0.0%

Shares of NYSE GAM traded up $0.01 on Friday, reaching $64.49. 4,358 shares of the company traded hands, compared to its average volume of 27,157. General American Investors has a fifty-two week low of $56.24 and a fifty-two week high of $68.57. The company has a 50 day moving average of $66.01 and a 200 day moving average of $63.88.

General American Investors Company Profile

General American Investors Company, Inc is a publicly traded closed-end investment company that seeks long-term capital appreciation through investments in a diversified portfolio of securities. The company’s shares trade on the New York Stock Exchange under the symbol GAM.

Founded in 1927, General American Investors is one of the oldest closed-end investment companies in the United States. Its portfolio has historically included common stocks, convertible securities and other investments, with an emphasis on identifying companies that may offer attractive long-term growth potential.

The company invests primarily in publicly traded businesses across a range of industries and may hold investments in both U.S.