Wealth Enhancement Advisory Services LLC Makes New $303,000 Investment in General American Investors, Inc. (NYSE:GAM)

Wealth Enhancement Advisory Services LLC purchased a new position in shares of General American Investors, Inc. (NYSE:GAM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,013 shares of the investment management company's stock, valued at approximately $303,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GAM. PNC Financial Services Group Inc. grew its holdings in shares of General American Investors by 8.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the investment management company's stock worth $127,000 after purchasing an additional 197 shares during the last quarter. Tompkins Financial Corp bought a new stake in General American Investors in the first quarter valued at approximately $232,000. Tyler Stone Wealth Management boosted its holdings in General American Investors by 8.5% in the fourth quarter. Tyler Stone Wealth Management now owns 4,878 shares of the investment management company's stock valued at $249,000 after acquiring an additional 384 shares during the last quarter. First Manhattan CO. LLC. boosted its holdings in General American Investors by 8.4% in the fourth quarter. First Manhattan CO. LLC. now owns 5,581 shares of the investment management company's stock valued at $285,000 after acquiring an additional 434 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in General American Investors by 32.8% in the fourth quarter. Wells Fargo & Company MN now owns 5,745 shares of the investment management company's stock valued at $293,000 after acquiring an additional 1,418 shares during the last quarter. 36.85% of the stock is currently owned by institutional investors.

Insider Activity at General American Investors

In other General American Investors news, CEO Jeffrey W. Priest purchased 1,141 shares of the business's stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $24.75 per share, for a total transaction of $28,239.75. Following the acquisition, the chief executive officer owned 18,268 shares of the company's stock, valued at approximately $452,133. This represents a 6.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur G. Altschul, Jr. sold 17,400 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $24.82, for a total value of $431,868.00. Following the transaction, the director owned 5,000 shares in the company, valued at $124,100. The trade was a 77.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 2,496 shares of company stock worth $61,780 over the last quarter. 8.33% of the stock is currently owned by company insiders.

General American Investors Stock Performance

GAM stock traded up $0.10 during trading on Wednesday, hitting $56.68. The company had a trading volume of 12,111 shares, compared to its average volume of 28,057. The business has a 50-day moving average of $54.03 and a 200-day moving average of $51.94. General American Investors, Inc. has a one year low of $41.80 and a one year high of $57.09.

About General American Investors

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.