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

General American Investors, Inc. (NYSE:GAM – Get Free Report) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 8,142 shares, an increase of 3,143.8% from the August 31st total of 251 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 16,856 shares, the days-to-cover ratio is presently 0.5 days.

General American Investors Stock Up 0.1%

Shares of General American Investors stock opened at $64.52 on Friday. General American Investors has a twelve month low of $56.24 and a twelve month high of $68.57. The firm’s 50-day moving average price is $66.01 and its 200 day moving average price is $63.88.

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Insider Buying and Selling

In related news, Treasurer Samantha Jin acquired 2,000 shares of General American Investors stock in a transaction on Thursday, September 17th. The stock was bought at an average cost of $23.69 per share, for a total transaction of $47,380.00. Following the completion of the transaction, the treasurer owned 2,000 shares of the company’s stock, valued at approximately $47,380. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Grassi acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were bought at an average cost of $23.08 per share, for a total transaction of $46,160.00. Following the completion of the acquisition, the insider owned 3,100 shares of the company’s stock, valued at approximately $71,548. This represents a 181.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 15,000 shares of company stock valued at $350,950. 7.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General American Investors

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of General American Investors by 10.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,775 shares of the investment management company’s stock worth $163,000 after acquiring an additional 273 shares during the last quarter. Harbour Investments Inc. raised its stake in General American Investors by 10.9% in the 4th quarter. Harbour Investments Inc. now owns 3,018 shares of the investment management company’s stock valued at $177,000 after purchasing an additional 297 shares during the last quarter. Prospera Financial Services Inc raised its stake in General American Investors by 10.9% in the 4th quarter. Prospera Financial Services Inc now owns 4,013 shares of the investment management company’s stock valued at $236,000 after purchasing an additional 395 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in General American Investors by 32.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,656 shares of the investment management company’s stock valued at $169,000 after purchasing an additional 657 shares in the last quarter. Finally, Nixon Peabody Trust Co. lifted its holdings in General American Investors by 10.9% in the 1st quarter. Nixon Peabody Trust Co. now owns 7,047 shares of the investment management company’s stock valued at $412,000 after purchasing an additional 692 shares in the last quarter. Hedge funds and other institutional investors own 36.85% of the company’s stock.

About General American Investors

(Get Free Report)

General American Investors Company, Inc is a publicly traded closed-end investment company that seeks long-term capital appreciation through investments in a diversified portfolio of securities. The company’s shares trade on the New York Stock Exchange under the symbol GAM.

Founded in 1927, General American Investors is one of the oldest closed-end investment companies in the United States. Its portfolio has historically included common stocks, convertible securities and other investments, with an emphasis on identifying companies that may offer attractive long-term growth potential.

The company invests primarily in publicly traded businesses across a range of industries and may hold investments in both U.S.

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