General American Investors (NYSE:GAM) VP Buys $66,000.00 in Stock

Key Points

• VP Eugene Stark bought 3,000 shares for $66,000 at $22 per share, increasing his stake by 17.65% to 20,000 shares.
• General American Investors declared an annual dividend of $7.43 per share, up from $6.40; it is payable December 30 to shareholders of record November 16.
• The stock fell 0.5% on Friday to $65.24, while institutional investors and hedge funds own 36.85% of shares.

General American Investors, Inc. (NYSE:GAM - Get Free Report) VP Eugene Stark acquired 3,000 shares of the company's stock in a transaction on Friday, November 13th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $66,000.00. Following the completion of the acquisition, the vice president owned 20,000 shares of the company's stock, valued at $440,000. This trade represents a 17.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

General American Investors Stock Down 0.5%

Shares of General American Investors stock traded down $0.32 on Friday, reaching $65.24. The company's stock had a trading volume of 62,690 shares, compared to its average volume of 27,237. The stock has a 50-day moving average price of $64.63 and a 200-day moving average price of $63.59. General American Investors, Inc. has a 52-week low of $56.24 and a 52-week high of $68.57.

General American Investors Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, December 30th. Investors of record on Monday, November 16th will be paid a $7.43 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a yield of 1,149.0%. This is an increase from General American Investors's previous annual dividend of $6.40.

Hedge Funds Weigh In On General American Investors

Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. purchased a new position in General American Investors in the 3rd quarter valued at about $26,968,000. Quantedge Capital Pte Ltd acquired a new stake in General American Investors in the 3rd quarter worth about $216,000. HighTower Advisors LLC boosted its holdings in General American Investors by 29.0% in the 3rd quarter. HighTower Advisors LLC now owns 18,283 shares of the investment management company's stock worth $1,160,000 after buying an additional 4,112 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its stake in General American Investors by 1.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 835,331 shares of the investment management company's stock worth $52,993,000 after buying an additional 9,845 shares in the last quarter. Finally, Samalin Investment Counsel LLC increased its stake in General American Investors by 63.8% during the 3rd quarter. Samalin Investment Counsel LLC now owns 41,332 shares of the investment management company's stock worth $2,622,000 after buying an additional 16,098 shares in the last quarter. 36.85% of the stock is currently owned by institutional investors and hedge funds.

About General American Investors

General American Investors Company, Inc. is a closed-end investment company that invests in a diversified portfolio of securities. Its investment objective is to seek long-term capital appreciation while also considering income. Founded in 1927, the company invests primarily in stocks of U.S. companies. Its shares trade on the New York Stock Exchange, giving investors access to its portfolio through a publicly traded investment vehicle.

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