General American Investors (NYSE:GAM) Share Price Breaks Above 200 Day Moving Average – Time to Sell?

General American Investors, Inc. (NYSE:GAM)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $63.52 and traded as high as $65.65. General American Investors shares last traded at $65.42, with a volume of 43,878 shares traded.

General American Investors Trading Up 1.4%

The business has a 50-day simple moving average of $64.65 and a two-hundred day simple moving average of $63.57.

General American Investors Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, December 30th. Investors of record on Monday, November 16th will be issued a dividend of $7.43 per share. This represents a dividend yield of 1,149.0%. The ex-dividend date of this dividend is Monday, November 16th. This is a boost from General American Investors’s previous annual dividend of $6.40.

Insider Buying and Selling

In other General American Investors news, insider Craig Grassi purchased 2,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average price of $23.08 per share, with a total value of $46,160.00. Following the acquisition, the insider directly owned 3,100 shares of the company’s stock, valued at $71,548. This trade represents a 181.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Eugene Stark acquired 5,000 shares of General American Investors stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of $24.00 per share, with a total value of $120,000.00. Following the completion of the transaction, the vice president owned 17,000 shares of the company’s stock, valued at approximately $408,000. This trade represents a 41.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 15,000 shares of company stock valued at $350,950. 7.93% of the stock is owned by insiders.

Hedge Funds Weigh In On General American Investors

Several institutional investors and hedge funds have recently made changes to their positions in GAM. Advisors Asset Management Inc. acquired a new stake in General American Investors in the 3rd quarter worth about $26,968,000. Quantedge Capital Pte Ltd bought a new position in General American Investors during the 3rd quarter worth $216,000. HighTower Advisors LLC raised its holdings in General American Investors by 29.0% in the 3rd quarter. HighTower Advisors LLC now owns 18,283 shares of the investment management company’s stock valued at $1,160,000 after acquiring an additional 4,112 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in General American Investors by 1.2% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 835,331 shares of the investment management company’s stock valued at $52,993,000 after acquiring an additional 9,845 shares in the last quarter. Finally, Samalin Investment Counsel LLC raised its holdings in General American Investors by 63.8% in the 3rd quarter. Samalin Investment Counsel LLC now owns 41,332 shares of the investment management company’s stock valued at $2,622,000 after acquiring an additional 16,098 shares in the last quarter. Institutional investors and hedge funds own 36.85% of the company’s stock.

General American Investors Company Profile

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.