General American Investors, Inc. $GAM Shares Sold by Shaker Financial Services LLC

Key Points

• Shaker Financial Services reduced its GAM stake by 24.3% in the third quarter, selling 19,765 shares and retaining 61,535 shares worth approximately $3.9 million.
• Other institutional investors generally increased their positions, and hedge funds and other institutions collectively owned 36.85% of GAM.
• GAM shares traded down $0.55 to $64.30, while company insiders purchased 15,000 shares worth $350,950 in the latest quarter; insiders now own 7.93% of the stock.

Shaker Financial Services LLC trimmed its holdings in shares of General American Investors, Inc. (NYSE:GAM - Free Report) by 24.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,535 shares of the investment management company's stock after selling 19,765 shares during the period. General American Investors makes up about 1.3% of Shaker Financial Services LLC's portfolio, making the stock its 23rd biggest position. Shaker Financial Services LLC owned about 0.26% of General American Investors worth $3,904,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Lazard Asset Management LLC increased its stake in shares of General American Investors by 13.1% in the first quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company's stock worth $92,422,000 after acquiring an additional 183,051 shares during the period. Allspring Global Investments Holdings LLC lifted its position in General American Investors by 9.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company's stock valued at $25,197,000 after purchasing an additional 37,312 shares during the period. Altium Capital Management LLC lifted its position in General American Investors by 133.9% during the first quarter. Altium Capital Management LLC now owns 48,755 shares of the investment management company's stock valued at $2,851,000 after purchasing an additional 27,910 shares during the period. First Trust Advisors LP lifted its position in General American Investors by 10.1% during the first quarter. First Trust Advisors LP now owns 42,898 shares of the investment management company's stock valued at $2,508,000 after purchasing an additional 3,940 shares during the period. Finally, Evolve Private Wealth LLC purchased a new stake in General American Investors in the second quarter valued at $2,435,000. 36.85% of the stock is owned by hedge funds and other institutional investors.

General American Investors Price Performance

GAM traded down $0.55 during midday trading on Wednesday, hitting $64.30. 14,214 shares of the company were exchanged, compared to its average volume of 26,792. The company's 50 day simple moving average is $65.90 and its 200 day simple moving average is $64.28. General American Investors, Inc. has a 1-year low of $56.24 and a 1-year high of $68.57.

Insider Activity

In related news, Treasurer Samantha Jin bought 2,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were purchased at an average price of $23.69 per share, for a total transaction of $47,380.00. Following the completion of the purchase, the treasurer directly owned 2,000 shares of the company's stock, valued at $47,380. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Grassi bought 2,000 shares of the company's stock in a transaction that occurred 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 $71,548. This trade represents a 181.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 15,000 shares of company stock valued at $350,950 in the last quarter. 7.93% of the stock is currently owned by company insiders.

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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