General American Investors (NYSE:GAM) VP Buys $66,000.00 in Stock

General American Investors, Inc. (NYSE:GAM) VP Eugene Stark purchased 3,000 shares of the stock in a transaction dated Friday, November 13th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $66,000.00. Following the completion of the purchase, the vice president directly owned 20,000 shares of the company’s stock, valued at approximately $440,000. The trade was a 17.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

General American Investors Stock Down 0.5%

Shares of GAM traded down $0.32 during trading hours on Friday, hitting $65.24. 62,690 shares of the stock were exchanged, compared to its average volume of 27,237. The stock’s 50-day moving average price is $64.63 and its two-hundred day moving average price is $63.59. General American Investors, Inc. has a 12-month low of $56.24 and a 12-month high of $68.57.

General American Investors Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Monday, November 16th will be paid a dividend of $7.43 per share. This is a boost from General American Investors’s previous annual dividend of $6.40. The ex-dividend date of this dividend is Monday, November 16th. This represents a yield of 1,149.0%.

Institutional Investors Weigh In On General American Investors

A number of large investors have recently modified their holdings of GAM. Northwestern Mutual Wealth Management Co. raised its position in shares of General American Investors by 32.9% in the second 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 during the last quarter. Quad Cities Investment Group LLC purchased a new position in shares of General American Investors in the second quarter worth about $207,000. Quantedge Capital Pte Ltd acquired a new position in General American Investors during the third quarter worth about $216,000. Susquehanna International Group LLP acquired a new position in General American Investors during the second quarter worth about $265,000. Finally, Corient Private Wealth LP purchased a new stake in General American Investors during the 2nd quarter valued at about $273,000. 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 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.