General American Investors, Inc. (NYSE:GAM - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $63.52 and traded as high as $65.65. General American Investors shares last traded at $65.42, with a volume of 43,878 shares.
General American Investors Trading Up 3.1%
The company has a fifty day simple moving average of $64.69 and a two-hundred day simple moving average of $63.52.
General American Investors Increases Dividend
The business also recently disclosed an annual dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Monday, November 16th will be given a dividend of $7.43 per share. This is an increase from General American Investors's previous annual dividend of $6.40. This represents a dividend yield of 1,149.0%. The ex-dividend date of this dividend is Monday, November 16th.
Insider Buying and Selling
In other news, Treasurer Samantha X. Jin acquired 2,000 shares of the firm's stock in a transaction on Thursday, September 17th. The shares were purchased at an average cost of $23.69 per share, with a total value of $47,380.00. Following the completion of the purchase, the treasurer owned 2,000 shares of the company's stock, valued at $47,380. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eugene S. Stark acquired 5,000 shares of the business's stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $24.00 per share, with a total value of $120,000.00. Following the transaction, the vice president owned 17,000 shares in the company, valued at approximately $408,000. The trade was a 41.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 15,000 shares of company stock valued at $350,950 over the last ninety days. 7.93% of the stock is owned by company insiders.
Institutional Trading of General American Investors
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in General American Investors by 32.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,656 shares of the investment management company's stock valued at $169,000 after purchasing an additional 657 shares during the period. Quad Cities Investment Group LLC acquired a new stake in shares of General American Investors during the 2nd quarter worth approximately $207,000. Susquehanna International Group LLP acquired a new stake in shares of General American Investors during the 2nd quarter worth approximately $265,000. Corient Private Wealth LP bought a new stake in shares of General American Investors during the second quarter worth approximately $273,000. Finally, Compass Wealth Management LLC bought a new stake in shares of General American Investors during the second quarter worth approximately $309,000. 36.85% of the stock is currently owned by institutional investors and hedge funds.
About General American Investors
(
Get Free Report)
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.
Further Reading
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