General American Investors (NYSE:GAM) Sets New 1-Year High - Should You Buy?

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 - ) shares hit a new 52-week high on Thursday . The company traded as high as $61.79 and last traded at $61.30, with a volume of 2515 shares. The stock had previously closed at $60.71.

General American Investors Trading Up 1.4%

The stock's fifty day moving average is $58.30 and its 200 day moving average is $53.98.

Institutional Trading of General American Investors

Institutional investors have recently bought and sold shares of the company. Saba Capital Management L.P. lifted its stake in General American Investors by 42.6% during the 4th quarter. Saba Capital Management L.P. now owns 1,464,300 shares of the investment management company's stock valued at $74,694,000 after acquiring an additional 437,632 shares during the period. Shaker Financial Services LLC bought a new position in General American Investors during the 1st quarter valued at about $7,990,000. Royal Bank of Canada lifted its stake 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 valued at $9,871,000 after acquiring an additional 54,223 shares during the period. Jones Financial Companies Lllp lifted its stake in General American Investors by 79,052.6% during 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 period. Finally, Allspring Global Investments Holdings LLC lifted its stake 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 valued at $20,600,000 after acquiring an additional 33,338 shares during the period. 36.85% of the stock is owned by hedge funds and other institutional investors.

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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