General American Investors, Inc. (NYSE:GAM) Sees Large Decline in Short Interest

General American Investors, Inc. (NYSE:GAM) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 2,771 shares, a decrease of 66.0% from the September 15th total of 8,142 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,342 shares, the days-to-cover ratio is presently 0.1 days.

Insider Buying and Selling

In related news, insider Craig Grassi acquired 2,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average cost 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 approximately $71,548. The trade was a 181.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eugene S. Stark bought 5,000 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average price of $22.75 per share, with a total value of $113,750.00. Following the completion of the transaction, the vice president owned 39,000 shares in the company, valued at approximately $887,250. This trade represents a 14.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 15,000 shares of company stock valued at $350,950 over the last 90 days. 7.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General American Investors

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC increased its holdings in General American Investors by 13.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company’s stock valued at $92,422,000 after buying an additional 183,051 shares during the period. Allspring Global Investments Holdings LLC increased its stake in General American Investors by 9.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company’s stock valued at $25,197,000 after acquiring an additional 37,312 shares during the last quarter. Altium Capital Management LLC increased its stake in General American Investors by 133.9% in the first quarter. Altium Capital Management LLC now owns 48,755 shares of the investment management company’s stock valued at $2,851,000 after acquiring an additional 27,910 shares during the last quarter. First Trust Advisors LP increased its stake in General American Investors by 10.1% in the first quarter. First Trust Advisors LP now owns 42,898 shares of the investment management company’s stock valued at $2,508,000 after acquiring an additional 3,940 shares during the last quarter. Finally, Evolve Private Wealth LLC acquired a new position in General American Investors during the second quarter valued at approximately $2,435,000. Institutional investors own 36.85% of the company’s stock.

General American Investors Stock Performance

Shares of GAM traded down $1.02 during trading hours on Wednesday, hitting $63.83. 31,171 shares of the company were exchanged, compared to its average volume of 19,589. General American Investors has a fifty-two week low of $56.24 and a fifty-two week high of $68.57. The firm’s fifty day moving average is $65.85 and its 200 day moving average is $64.32.

General American Investors Company Profile

General American Investors Company, Inc (NYSE:GAM) is a publicly traded closed-end investment company focused on achieving long-term capital appreciation and income. Rather than operating a traditional business that sells products or services, the company manages a diversified portfolio of investments on behalf of its shareholders.

The company primarily invests in common stocks and convertible securities of public companies across a range of industries. Its portfolio may include investments in U.S.