General American Investors (NYSE:GAM) Reaches New 12-Month High - Should You Buy?

Key Points

• General American Investors (NYSE:GAM) reached a new 52-week high of $61.91 during trading, closing slightly lower at $61.42.
• Institutional investors and hedge funds now own 36.85% of the company's shares, with several firms increasing their holdings significantly in recent quarters.
• The investment management firm focuses on growth stocks across various sectors, including Information Technology and Health Care.

General American Investors, Inc. (NYSE:GAM - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $61.91 and last traded at $61.42, with a volume of 10411 shares trading hands. The stock had previously closed at $61.28.

General American Investors Trading Up 0.2%

The stock's fifty day moving average is $58.88 and its two-hundred day moving average is $54.41.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC grew its holdings in General American Investors by 1.2% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 726,586 shares of the investment management company's stock worth $36,598,000 after acquiring an additional 8,453 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in General American Investors by 10.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 367,595 shares of the investment management company's stock worth $20,600,000 after acquiring an additional 33,338 shares in the last quarter. Sit Investment Associates Inc. grew its holdings in General American Investors by 3.8% during the 1st quarter. Sit Investment Associates Inc. now owns 248,197 shares of the investment management company's stock worth $12,502,000 after acquiring an additional 9,147 shares in the last quarter. Royal Bank of Canada grew its holdings in General American Investors by 38.3% during the 1st quarter. Royal Bank of Canada now owns 195,963 shares of the investment management company's stock worth $9,871,000 after acquiring an additional 54,223 shares in the last quarter. Finally, Shaker Financial Services LLC acquired a new position in General American Investors during the 1st quarter worth $7,990,000. 36.85% of the stock is owned by institutional investors and hedge funds.

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.