General American Investors, Inc. (NYSE:GAM – Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 2,771 shares, a decline of 66.0% from the September 15th total of 8,142 shares. Based on an average daily volume of 22,342 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are short sold.
Insider Activity at General American Investors
In related news, VP Eugene S. Stark bought 5,000 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were bought at an average cost of $22.75 per share, for a total transaction of $113,750.00. Following the completion of the acquisition, the vice president directly owned 39,000 shares in the company, valued at approximately $887,250. This represents a 14.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Grassi purchased 2,000 shares of General American Investors stock in a transaction on Tuesday, September 22nd. The stock was bought at an average cost of $23.08 per share, with a total value of $46,160.00. Following the transaction, 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 SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 15,000 shares of company stock valued at $350,950. Insiders own 7.93% of the company’s stock.
Institutional Trading of General American Investors
Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of General American Investors during the 2nd quarter worth about $169,000. Quad Cities Investment Group LLC acquired a new position in General American Investors in the second quarter worth about $207,000. Susquehanna International Group LLP acquired a new position in General American Investors in the second quarter worth about $265,000. Corient Private Wealth LP acquired a new position in General American Investors in the second quarter worth about $273,000. Finally, Compass Wealth Management LLC bought a new position in General American Investors during the second quarter worth about $309,000. 36.85% of the stock is owned by institutional investors.
General American Investors Stock Up 0.5%
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.
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