General American Investors (NYSE:GAM) Hits New 12-Month High - What's Next?

Key Points

• General American Investors (NYSE: GAM) reached a new 12-month high, trading at $63.08 with a trading volume of nearly 4,946 shares.
• Recent activity among hedge funds shows significant investment increases, with CWM LLC boosting its holdings by nearly 120% in the first quarter.
• Hedge funds and institutional investors collectively own 36.85% of General American Investors' stock, indicating strong institutional interest in the company.

Shares of General American Investors, Inc. (NYSE:GAM - ) hit a new 52-week high on Friday . The company traded as high as $63.17 and last traded at $63.08, with a volume of 4946 shares changing hands. The stock had previously closed at $62.26.

General American Investors Stock Up 0.9%

The stock's 50 day moving average is $59.95 and its 200 day moving average is $55.32.

Hedge Funds Weigh In On General American Investors

Several hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of General American Investors by 119.8% during the first quarter. CWM LLC now owns 1,321 shares of the investment management company's stock worth $67,000 after purchasing an additional 720 shares during the last quarter. Grimes & Company Inc. acquired a new stake in General American Investors in the 2nd quarter worth about $202,000. Bank of Montreal Can acquired a new stake in General American Investors in the 2nd quarter worth about $203,000. Prospera Financial Services Inc purchased a new stake in General American Investors in the 2nd quarter valued at about $203,000. Finally, Osaic Holdings Inc. increased its stake in shares of General American Investors by 41.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,755 shares of the investment management company's stock valued at $210,000 after acquiring an additional 1,103 shares during the last quarter. Hedge funds and other institutional investors own 36.85% of the company's stock.

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.

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