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

Key Points

• General American Investors shares hit a new 52-week high, trading at $58.19, with a closing price of $57.97 and a volume of 4,682 shares.
• Several institutional investors have increased their stakes in General American Investors, notably Saba Capital Management which raised its position by 42.6% recently.
• The company primarily invests in growth stocks across various sectors including Information Technology, Financials, and Health Care.

General American Investors, Inc. (NYSE:GAM - ) shares reached a new 52-week high on Thursday . The stock traded as high as $58.19 and last traded at $57.97, with a volume of 4682 shares traded. The stock had previously closed at $57.45.

General American Investors Price Performance

The company has a 50-day simple moving average of $55.93 and a 200-day simple moving average of $52.79.

Institutional Trading of General American Investors

A number of large investors have recently made changes to their positions in GAM. Saba Capital Management L.P. increased its position in General American Investors by 42.6% during the fourth quarter. Saba Capital Management L.P. now owns 1,464,300 shares of the investment management company's stock worth $74,694,000 after acquiring an additional 437,632 shares during the period. Blue Bell Private Wealth Management LLC grew its stake in General American Investors by 1.2% during the first quarter. Blue Bell Private Wealth Management LLC now owns 726,586 shares of the investment management company's stock worth $36,598,000 after buying an additional 8,453 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in 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 buying an additional 33,338 shares during the period. Sit Investment Associates Inc. boosted its position in shares of 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. Finally, Cohen & Steers Inc. increased its stake in General American Investors by 19.8% in the fourth quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company's stock valued at $11,328,000 after acquiring an additional 36,746 shares during the last quarter. Institutional investors own 36.85% of the company's stock.

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.

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