General American Investors, Inc. (NYSE:GAM) Shares Shorted: Short Interest Up 3,143.8% in September

General American Investors, Inc. (NYSE:GAM) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 8,142 shares, an increase of 3,143.8% from the August 31st total of 251 shares. Based on an average daily trading volume, of 16,856 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are sold short.

General American Investors Price Performance

Shares of General American Investors stock traded down $0.23 during trading on Thursday, hitting $64.57. 16,682 shares of the stock traded hands, compared to its average volume of 27,290. The firm’s fifty day moving average is $66.01 and its 200-day moving average is $63.85. General American Investors has a 52 week low of $56.24 and a 52 week high of $68.57.

Insiders Place Their Bets

In other General American Investors news, insider Craig Grassi purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was purchased at an average price of $23.08 per share, for a total transaction of $46,160.00. Following the transaction, the insider owned 3,100 shares in the company, valued at $71,548. The trade was a 181.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Treasurer Samantha Jin purchased 2,000 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was bought at an average cost of $23.69 per share, with a total value of $47,380.00. Following the purchase, the treasurer owned 2,000 shares in the company, valued at approximately $47,380. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 15,000 shares of company stock worth $350,950 in the last ninety days. 7.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General American Investors

Several institutional investors and hedge funds have recently bought and sold shares of GAM. Readystate Asset Management LP bought a new position in shares of General American Investors in the second quarter worth approximately $391,000. Susquehanna International Group LLP purchased a new stake in General American Investors in the second quarter worth about $265,000. IMC Chicago LLC bought a new stake in shares of General American Investors during the second quarter valued at approximately $314,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 buying an additional 657 shares in the last quarter. Finally, United Capital Financial Advisors LLC purchased a new stake in General American Investors in the second quarter worth about $532,000. 36.85% of the stock is currently owned by institutional investors.

General American Investors Company Profile

General American Investors Company, Inc is a publicly traded closed-end investment company that seeks long-term capital appreciation through investments in a diversified portfolio of securities. The company’s shares trade on the New York Stock Exchange under the symbol GAM.

Founded in 1927, General American Investors is one of the oldest closed-end investment companies in the United States. Its portfolio has historically included common stocks, convertible securities and other investments, with an emphasis on identifying companies that may offer attractive long-term growth potential.

The company invests primarily in publicly traded businesses across a range of industries and may hold investments in both U.S.