General American Investors (NYSE:GAM) Sees Unusually-High Trading Volume – Still a Buy?

General American Investors Company, Inc. (NYSE:GAM) shares saw an uptick in trading volume on Tuesday . 30,508 shares traded hands during mid-day trading, an increase of 64% from the previous session’s volume of 18,601 shares.The stock last traded at $52.42 and had previously closed at $52.25.

General American Investors Stock Up 0.7 %

The business has a fifty day moving average price of $51.51 and a 200 day moving average price of $52.13.

General American Investors Dividend Announcement

The company also recently announced an annual dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, November 18th were paid a $0.45 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend was Monday, November 18th.

Insider Transactions at General American Investors

In other General American Investors news, CEO Jeffrey W. Priest purchased 6,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $25.00 per share, with a total value of $150,000.00. Following the transaction, the chief executive officer now directly owns 15,392 shares of the company’s stock, valued at $384,800. This represents a 63.88 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 7,250 shares of company stock valued at $192,031 in the last ninety days. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General American Investors

Several hedge funds have recently modified their holdings of the stock. Pathstone Holdings LLC raised its stake in shares of General American Investors by 31.9% during the 3rd quarter. Pathstone Holdings LLC now owns 330,584 shares of the investment management company’s stock worth $17,731,000 after purchasing an additional 79,975 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in General American Investors during the second quarter worth $1,818,000. Capstone Investment Advisors LLC bought a new stake in General American Investors during the third quarter worth $1,769,000. Advisors Asset Management Inc. acquired a new stake in General American Investors in the third quarter valued at $1,490,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of General American Investors in the 3rd quarter valued at about $513,000. Institutional investors own 36.85% of the company’s stock.

General American Investors Company Profile

General American Investors Company, Inc is a publicly owned investment manager. The firm invests in the public equity markets of United States. It invests in growth stocks of companies. It makes investments in Information Technology, Financials, Consumer Staples, Consumer Discretionary, Retailing, Communication Services, Industrials, Health Care, Energy and Materials.