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

Key Points

• General American Investors, Inc. (NYSE:GAM) reached a new 52-week high of $58.70 during trading, with a significant volume of 4,951 shares traded.
• Hedge fund activity around General American Investors has increased, with significant stakes being bought or expanded by firms like Cetera Investment Advisers and Janney Montgomery Scott LLC.
• Institutional investors currently own 36.85% of General American Investors' stock, highlighting the interest from larger financial entities in the company.

General American Investors, Inc. (NYSE:GAM - )'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $58.69 and last traded at $58.70, with a volume of 4951 shares. The stock had previously closed at $58.16.

General American Investors Stock Performance

The stock has a 50 day simple moving average of $56.25 and a 200 day simple moving average of $52.93.

Hedge Funds Weigh In On General American Investors

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC bought a new position in General American Investors during the 1st quarter worth $303,000. Janney Montgomery Scott LLC increased its stake in shares of General American Investors by 2.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,629 shares of the investment management company's stock valued at $535,000 after purchasing an additional 301 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of General American Investors by 78.7% in the 4th quarter. Cetera Investment Advisers now owns 17,011 shares of the investment management company's stock valued at $868,000 after purchasing an additional 7,492 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of General American Investors in the 4th quarter valued at $797,000. Finally, Tompkins Financial Corp bought a new position in shares of General American Investors in the 1st quarter valued at $232,000. 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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