General American Investors (NYSE:GAM) Reaches New 52-Week High - What's Next?

Key Points

• General American Investors' stock reached a new 52-week high of $62.53 during trading, closing at $62.10 with a volume of 11,621 shares.
• Institutional investors own 36.85% of the company's stock, with hedge funds, including Royal Bank of Canada and Jones Financial Companies, significantly increasing their stakes.
• The company focuses on investing in growth stocks across various sectors, including Information Technology, Financials, and Health Care.

Shares of General American Investors, Inc. (NYSE:GAM - ) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $62.53 and last traded at $62.10, with a volume of 11621 shares. The stock had previously closed at $61.74.

General American Investors Stock Performance

The company has a 50 day simple moving average of $59.08 and a 200-day simple moving average of $54.62.

Institutional Investors Weigh In On General American Investors

Several hedge funds have recently added to or reduced their stakes in GAM. Shaker Financial Services LLC bought a new stake in General American Investors during the first quarter worth about $7,990,000. Royal Bank of Canada lifted its stake in shares of General American Investors by 38.3% in the 1st quarter. Royal Bank of Canada now owns 195,963 shares of the investment management company's stock valued at $9,871,000 after acquiring an additional 54,223 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of General American Investors by 79,052.6% in the 1st quarter. Jones Financial Companies Lllp now owns 45,117 shares of the investment management company's stock valued at $2,106,000 after acquiring an additional 45,060 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of General American Investors by 10.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 367,595 shares of the investment management company's stock valued at $20,600,000 after acquiring an additional 33,338 shares during the last quarter. Finally, Joel Isaacson & Co. LLC bought a new stake in shares of General American Investors in the 1st quarter valued at about $623,000. 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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