General American Investors Company, Inc. (NYSE:GAM - Get Free Report) Chairman Spencer Davidson sold 11,199 shares of General American Investors stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $24.83, for a total value of $278,071.17. Following the sale, the chairman now directly owns 22,400 shares of the company's stock, valued at $556,192. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
General American Investors Stock Performance
NYSE GAM traded down $2.76 during trading hours on Friday, reaching $46.94. The company's stock had a trading volume of 33,809 shares, compared to its average volume of 30,048. General American Investors Company, Inc. has a 1-year low of $44.54 and a 1-year high of $55.44. The company's 50-day moving average is $51.37 and its two-hundred day moving average is $52.09.
General American Investors Cuts Dividend
The firm also recently announced a -- dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. This represents a dividend yield of 0.9%. The ex-dividend date was Monday, February 24th.
Hedge Funds Weigh In On General American Investors
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. lifted its holdings in shares of General American Investors by 42.6% in the 4th quarter. Saba Capital Management L.P. now owns 1,464,300 shares of the investment management company's stock worth $74,694,000 after acquiring an additional 437,632 shares during the last quarter. Sit Investment Associates Inc. boosted its holdings in General American Investors by 35.9% in the fourth quarter. Sit Investment Associates Inc. now owns 239,050 shares of the investment management company's stock valued at $12,194,000 after purchasing an additional 63,197 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of General American Investors by 139.7% in the 4th quarter. Advisors Asset Management Inc. now owns 66,603 shares of the investment management company's stock valued at $3,397,000 after buying an additional 38,814 shares during the last quarter. Cohen & Steers Inc. increased its position in shares of General American Investors by 19.8% during the fourth quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company's stock worth $11,328,000 after purchasing an additional 36,746 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new stake in General American Investors in the fourth quarter valued at approximately $1,564,000. Institutional investors and hedge funds own 36.85% of the company's stock.
About General American Investors
(
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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.
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