Key Points
- General American Investors VP Eugene Stark purchased 5,000 shares at $24 each, investing $120,000 and increasing his holdings by 41.67% to 17,000 shares.
- GAM shares fell 0.9% to open at $64.51, compared with a 50-day moving average of $65.94 and a 200-day moving average of $63.70.
- Institutional investors and hedge funds own approximately 36.85% of GAM, with several firms recently initiating or increasing positions.
General American Investors, Inc. (NYSE:GAM - Get Free Report) VP Eugene Stark purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $24.00 per share, with a total value of $120,000.00. Following the acquisition, the vice president owned 17,000 shares in the company, valued at $408,000. The trade was a 41.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
General American Investors Trading Down 0.9%
GAM opened at $64.51 on Wednesday. The stock has a 50-day moving average of $65.94 and a 200 day moving average of $63.70. General American Investors, Inc. has a 12 month low of $56.24 and a 12 month high of $68.57.
Hedge Funds Weigh In On General American Investors
A number of institutional investors and hedge funds have recently modified their holdings of GAM. Northwestern Mutual Wealth Management Co. bought a new position in General American Investors during the second quarter valued at $169,000. PNC Financial Services Group Inc. lifted 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 during the last quarter. Harbour Investments Inc. lifted its holdings in shares of General American Investors by 10.9% in the 4th quarter. Harbour Investments Inc. now owns 3,018 shares of the investment management company's stock worth $177,000 after acquiring an additional 297 shares during the last quarter. Quad Cities Investment Group LLC purchased a new position in shares of General American Investors during the 2nd quarter worth about $207,000. Finally, Prospera Financial Services Inc grew its holdings in 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 valued at $236,000 after purchasing an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 36.85% of the company's stock.
General American Investors Company Profile
(
Get Free Report)
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.
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