Short Interest in General American Investors, Inc. (NYSE:GAM) Drops By 48.6%

General American Investors, Inc. (NYSE:GAM) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 3,231 shares, a decrease of 48.6% from the May 14th total of 6,285 shares. Based on an average trading volume of 29,764 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are sold short.

Insider Activity at General American Investors

In related news, VP Eugene S. Stark acquired 6,151 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were purchased at an average cost of $24.86 per share, for a total transaction of $152,913.86. Following the acquisition, the vice president owned 34,000 shares in the company, valued at $845,240. The trade was a 22.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have purchased 7,662 shares of company stock valued at $190,328. Corporate insiders own 7.93% of the company’s stock.

Institutional Investors Weigh In On General American Investors

A number of hedge funds have recently added to or reduced their stakes in GAM. Birchwood Financial Partners Inc. acquired a new stake in General American Investors during the 4th quarter worth approximately $54,000. PNC Financial Services Group Inc. lifted its holdings in General American Investors by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,775 shares of the investment management company’s stock worth $163,000 after buying an additional 273 shares in the last quarter. Harbour Investments Inc. lifted its holdings in 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 in the last quarter. Osaic Holdings Inc. lifted its holdings in General American Investors by 41.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,755 shares of the investment management company’s stock worth $210,000 after buying an additional 1,103 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC acquired a new stake in General American Investors during the 3rd quarter worth approximately $211,000. 36.85% of the stock is currently owned by institutional investors and hedge funds.

General American Investors Price Performance

General American Investors stock traded up $0.57 during mid-day trading on Friday, reaching $63.42. 17,631 shares of the company’s stock were exchanged, compared to its average volume of 30,691. General American Investors has a twelve month low of $53.78 and a twelve month high of $66.18. The company has a fifty day moving average of $63.40 and a 200-day moving average of $61.10.

About General American Investors

General American Investors Company, Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the ticker GAM. The firm primarily allocates capital to equity and equity-related securities of publicly traded companies, aiming to generate long-term capital appreciation for its shareholders. Its flexible mandate allows investment across a broad range of industries and market capitalizations.

The company follows a value-oriented, fundamental research approach, conducting in-depth analysis to identify undervalued businesses with strong growth potential.