General American Investors (NYSE:GAM) Shares Cross Above 50 Day Moving Average – Here’s What Happened

General American Investors, Inc. (NYSE:GAM) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $59.00 and traded as high as $61.34. General American Investors shares last traded at $60.84, with a volume of 17,920 shares.

General American Investors Price Performance

The stock’s fifty day moving average price is $59.00 and its two-hundred day moving average price is $60.06.

General American Investors Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, December 26th. Shareholders of record on Monday, November 17th were paid a $6.40 dividend. This is a boost from General American Investors’s previous annual dividend of $0.45. This represents a yield of 1,125.0%. The ex-dividend date was Monday, November 17th.

Insider Transactions at General American Investors

In other General American Investors news, VP Eugene S. Stark acquired 4,000 shares of the stock in a transaction dated Tuesday, January 13th. The stock was acquired at an average cost of $24.98 per share, with a total value of $99,920.00. Following the transaction, the vice president owned 24,000 shares in the company, valued at $599,520. The trade was a 20.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 4,100 shares of company stock worth $102,418. 8.33% of the stock is owned by insiders.

Institutional Investors Weigh In On General American Investors

Several institutional investors have recently added to or reduced their stakes in GAM. Royal Bank of Canada increased its stake in General American Investors by 38.3% in the first quarter. Royal Bank of Canada now owns 195,963 shares of the investment management company’s stock valued at $9,871,000 after purchasing an additional 54,223 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of General American Investors by 5.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 11,220 shares of the investment management company’s stock valued at $629,000 after buying an additional 591 shares during the last quarter. Grimes & Company Inc. acquired a new stake in General American Investors during the 2nd quarter worth $202,000. Mraz Amerine & Associates Inc. lifted its position in General American Investors by 4.4% in the second quarter. Mraz Amerine & Associates Inc. now owns 23,679 shares of the investment management company’s stock valued at $1,327,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in General American Investors by 10.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 367,595 shares of the investment management company’s stock valued at $20,600,000 after acquiring an additional 33,338 shares in the last quarter. Hedge funds and other institutional investors own 36.85% of the company’s stock.

General American Investors Company Profile

General American Investors Company, Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the ticker GAM. The firm primarily allocates capital to equity and equity-related securities of publicly traded companies, aiming to generate long-term capital appreciation for its shareholders. Its flexible mandate allows investment across a broad range of industries and market capitalizations.

The company follows a value-oriented, fundamental research approach, conducting in-depth analysis to identify undervalued businesses with strong growth potential.