Saba Capital Management L.P. Boosts Stock Position in General American Investors Company, Inc. (NYSE:GAM)

Saba Capital Management L.P. boosted its holdings in General American Investors Company, Inc. (NYSE:GAM - Free Report) by 42.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,464,300 shares of the investment management company's stock after buying an additional 437,632 shares during the quarter. General American Investors makes up about 1.8% of Saba Capital Management L.P.'s holdings, making the stock its 11th largest position. Saba Capital Management L.P. owned 6.11% of General American Investors worth $74,694,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GAM. First Manhattan CO. LLC. grew its holdings in shares of General American Investors by 8.4% during the fourth quarter. First Manhattan CO. LLC. now owns 5,581 shares of the investment management company's stock worth $285,000 after purchasing an additional 434 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of General American Investors by 78.7% during the fourth quarter. Cetera Investment Advisers now owns 17,011 shares of the investment management company's stock worth $868,000 after purchasing an additional 7,492 shares during the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of General American Investors by 8.6% during the fourth quarter. Capstone Investment Advisors LLC now owns 35,841 shares of the investment management company's stock worth $1,828,000 after purchasing an additional 2,841 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of General American Investors by 3.0% during the fourth quarter. First Trust Advisors LP now owns 36,230 shares of the investment management company's stock worth $1,848,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of General American Investors by 50.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 65,216 shares of the investment management company's stock worth $3,327,000 after purchasing an additional 21,965 shares during the last quarter. Hedge funds and other institutional investors own 36.85% of the company's stock.

Insiders Place Their Bets

In other news, Director Arthur G. Altschul, Jr. sold 2,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $24.83, for a total transaction of $49,660.00. Following the completion of the sale, the director now owns 24,400 shares in the company, valued at approximately $605,852. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey W. Priest bought 1,735 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were acquired at an average price of $24.75 per share, with a total value of $42,941.25. Following the purchase, the chief executive officer now directly owns 17,127 shares of the company's stock, valued at approximately $423,893.25. This trade represents a 11.27% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 6,026 shares of company stock valued at $149,931 and have sold 32,599 shares valued at $808,839. Corporate insiders own 8.33% of the company's stock.

General American Investors Stock Up 0.7%

Shares of GAM stock opened at $53.31 on Friday. The stock's 50-day moving average is $50.13 and its two-hundred day moving average is $51.31. General American Investors Company, Inc. has a 1 year low of $41.80 and a 1 year high of $55.44.

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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