General American Investors, Inc. $GAM Stock Sold by Shaker Financial Services LLC

Shaker Financial Services LLC lowered its position in General American Investors, Inc. (NYSE:GAM) by 24.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,535 shares of the investment management company’s stock after selling 19,765 shares during the period. General American Investors comprises approximately 1.3% of Shaker Financial Services LLC’s investment portfolio, making the stock its 23rd biggest position. Shaker Financial Services LLC’s holdings in General American Investors were worth $3,904,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GAM. Lazard Asset Management LLC boosted its stake in shares of General American Investors by 13.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company’s stock worth $92,422,000 after acquiring an additional 183,051 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in shares of General American Investors during the 2nd quarter valued at about $2,435,000. Allspring Global Investments Holdings LLC increased its stake in shares of General American Investors by 9.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company’s stock valued at $25,197,000 after purchasing an additional 37,312 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of General American Investors in the 2nd quarter valued at about $2,285,000. Finally, Bank of America Corp DE purchased a new position in shares of General American Investors in the 2nd quarter valued at about $1,948,000. Institutional investors and hedge funds own 36.85% of the company’s stock.

General American Investors Stock Performance

NYSE GAM traded down $0.55 during trading hours on Wednesday, reaching $64.30. The company’s stock had a trading volume of 14,214 shares, compared to its average volume of 26,792. General American Investors, Inc. has a 1-year low of $56.24 and a 1-year high of $68.57. The company’s 50-day moving average is $65.90 and its two-hundred day moving average is $64.28.

Insider Buying and Selling at General American Investors

In other General American Investors news, VP Eugene S. Stark bought 5,000 shares of General American Investors stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average cost of $22.75 per share, with a total value of $113,750.00. Following the purchase, the vice president directly owned 39,000 shares in the company, valued at $887,250. This represents a 14.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Grassi bought 2,000 shares of General American Investors stock in a transaction dated Tuesday, September 22nd. The shares were acquired at an average cost of $23.08 per share, with a total value of $46,160.00. Following the completion of the purchase, the insider owned 3,100 shares in the company, valued at approximately $71,548. This trade represents a 181.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 15,000 shares of company stock valued at $350,950. Company insiders own 7.93% of the company’s stock.

About General American Investors

General American Investors Company, Inc (NYSE:GAM) is a publicly traded closed-end investment company focused on achieving long-term capital appreciation and income. Rather than operating a traditional business that sells products or services, the company manages a diversified portfolio of investments on behalf of its shareholders.

The company primarily invests in common stocks and convertible securities of public companies across a range of industries. Its portfolio may include investments in U.S.