Sit Investment Associates Inc. Cuts Stock Position in General American Investors, Inc. $GAM

Sit Investment Associates Inc. cut its stake in shares of General American Investors, Inc. (NYSE:GAM) by 16.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 232,651 shares of the investment management company’s stock after selling 45,224 shares during the quarter. Sit Investment Associates Inc. owned 0.99% of General American Investors worth $13,664,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of General American Investors in the fourth quarter valued at about $217,000. Birchwood Financial Partners Inc. acquired a new stake in General American Investors in the fourth quarter valued at about $54,000. XTX Topco Ltd purchased a new stake in General American Investors in the 4th quarter valued at approximately $267,000. Saba Capital Management L.P. increased its position in General American Investors by 2.2% during the 4th quarter. Saba Capital Management L.P. now owns 2,085,885 shares of the investment management company’s stock worth $122,504,000 after purchasing an additional 44,324 shares during the period. Finally, Evolve Private Wealth LLC purchased a new position in shares of General American Investors during the 4th quarter worth approximately $2,373,000. 36.85% of the stock is owned by institutional investors and hedge funds.

General American Investors Stock Up 0.6%

Shares of GAM stock opened at $63.96 on Friday. The business’s fifty day moving average price is $63.79 and its 200 day moving average price is $61.28. General American Investors, Inc. has a 1-year low of $53.78 and a 1-year high of $66.18.

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 that occurred on Wednesday, April 8th. The shares were purchased at an average price of $24.86 per share, with a total value of $152,913.86. Following the completion of the acquisition, the vice president owned 34,000 shares in the company, valued at approximately $845,240. This represents a 22.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 7,651 shares of company stock valued at $190,054 in the last ninety days. 7.93% of the stock is owned by company insiders.

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.