General American Investors (NYSE:GAM) Hits New 1-Year High - What's Next?

Key Points

• General American Investors (NYSE:GAM) has reached a new 52-week high at $61.79, with its last traded price at $61.30, indicating a significant increase in stock value.
• Institutional investors have shown increased interest, with Saba Capital Management increasing its stake by 42.6% and several other institutions also boosting their holdings in the company.
• The stock has demonstrated a positive trading trend, with a 1.4% increase noted in recent trading sessions, supported by strong moving averages of $58.30 (50-day) and $53.98 (200-day).

General American Investors, Inc. (NYSE:GAM - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $61.79 and last traded at $61.30, with a volume of 2515 shares changing hands. The stock had previously closed at $60.71.

General American Investors Stock Up 0.2%

The firm's fifty day simple moving average is $58.59 and its two-hundred day simple moving average is $54.23.

Hedge Funds Weigh In On General American Investors

Several large investors have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC lifted its holdings in shares of General American Investors by 1.2% in 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 worth $20,600,000 after acquiring an additional 33,338 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in shares of General American Investors by 3.8% in 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 during the last quarter. Royal Bank of Canada lifted its holdings 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 worth $9,871,000 after acquiring an additional 54,223 shares during the last quarter. Finally, Shaker Financial Services LLC acquired a new position in shares of General American Investors in the 1st quarter worth approximately $7,990,000. 36.85% of the stock is currently owned by institutional investors and hedge funds.

General American Investors Company Profile

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.