Key Points
- VP Eugene Stark bought 1,000 shares for $21,950 at $21.95 per share, increasing his direct holdings by 2.56% to 40,000 shares.
- General American Investors announced an annual dividend of $7.43 per share, up from $6.40; shareholders of record November 16 are scheduled to receive it December 30.
- GAM shares opened at $65.44 on Friday, down 0.5%; institutional investors own 36.85% of the stock.
General American Investors, Inc. (NYSE:GAM - Get Free Report) VP Eugene Stark purchased 1,000 shares of the business's stock in a transaction dated Thursday, November 12th. The shares were acquired at an average price of $21.95 per share, for a total transaction of $21,950.00. Following the acquisition, the vice president directly owned 40,000 shares in the company, valued at $878,000. This represents a 2.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
General American Investors Stock Down 0.5%
GAM stock opened at $65.44 on Friday. General American Investors, Inc. has a 1 year low of $56.24 and a 1 year high of $68.57. The company has a fifty day simple moving average of $64.63 and a 200 day simple moving average of $63.59.
General American Investors Increases Dividend
The firm also recently announced an annual dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Monday, November 16th will be given a dividend of $7.43 per share. The ex-dividend date of this dividend is Monday, November 16th. This is a positive change from General American Investors's previous annual dividend of $6.40. This represents a yield of 1,149.0%.
Hedge Funds Weigh In On General American Investors
Several institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of General American Investors by 32.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,656 shares of the investment management company's stock worth $169,000 after buying an additional 657 shares during the last quarter. Quad Cities Investment Group LLC acquired a new position in shares of General American Investors during the 2nd quarter valued at about $207,000. Quantedge Capital Pte Ltd acquired a new position in shares of General American Investors during the 3rd quarter valued at about $216,000. Susquehanna International Group LLP bought a new position in shares of General American Investors in the 2nd quarter valued at approximately $265,000. Finally, Corient Private Wealth LP bought a new position in shares of General American Investors in the 2nd quarter valued at approximately $273,000. 36.85% of the stock is currently owned by institutional investors.
About General American Investors
(
Get Free Report)
General American Investors Company, Inc. is a closed-end investment company that invests in a diversified portfolio of securities. Its investment objective is to seek long-term capital appreciation while also considering income. Founded in 1927, the company invests primarily in stocks of U.S. companies. Its shares trade on the New York Stock Exchange, giving investors access to its portfolio through a publicly traded investment vehicle.
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