General American Investors Company, Inc. (NYSE:GAM) Short Interest Update

General American Investors Company, Inc. (NYSE:GAM - Get Free Report) experienced a notable decrease in short interest during January. As of the end of January, short interest was recorded at 7,800 shares, representing a significant drop of 49.0% from the earlier figure of 15,300 shares noted on January 15th. Given the average daily trading volume of 29,100 shares, the current days-to-cover ratio stands at 0.3 days.

General American Investors Stock Performance

During trading on the most recent Friday, shares of GAM saw a decline of $0.14, bringing the stock price to $52.70. In total, 13,357 shares were exchanged, compared to an average volume of 18,227 shares. The 50-day simple moving average for the company is $51.97, while the 200-day simple moving average is $52.23. Over the past year, the stock has reached a low of $44.30 and a high of $55.44.

General American Investors Cuts Dividend

Recently, the company announced a dividend payment that will be distributed on Friday, March 7th. Shareholders who are on record as of Monday, February 24th, will receive a dividend of $0.25. This payout reflects a dividend yield of 0.9%. The ex-dividend date is also set for Monday, February 24th.

Insiders Place Their Bets

In other developments, CEO Jeffrey W. Priest acquired 6,000 shares of General American Investors on December 16th. The shares were purchased at an average price of $25.00 each, totaling an investment of $150,000. This transaction increased the CEO's total ownership to 15,392 shares, valued at around $384,800. Notably, this acquisition marked a 63.88% rise in his stake in the company. This information has been disclosed in a legal filing accessible through the appropriate channels. In the last quarter, insiders bought an additional 7,250 shares worth $192,031, which brings the total insider ownership to 8.30% of the company's stock.

Institutional Trading of General American Investors

Several institutional investors have recently adjusted their stakes in GAM. For instance, Armstrong Advisory Group Inc. acquired a new position worth $52,000 in General American Investors during the fourth quarter. Furthermore, Farther Finance Advisors LLC took a new position in the third quarter valued at $59,000, while Eastern Bank also entered with a $92,000 position in the same period. Additionally, PNC Financial Services Group Inc. enhanced its shareholding in General American Investors by 8.6% in the fourth quarter, now owning 2,490 shares worth approximately $127,000 following the addition of 197 shares. Tyler Stone Wealth Management also doubled its stake in the third quarter, with current holdings of 4,494 shares valued at $241,000. Currently, institutional investors hold about 36.85% of the stock.

About General American Investors

General American Investors Company, Inc. operates as a publicly owned investment manager. The firm engages in investments across the public equity markets in the United States, focusing on growth stocks in sectors including Information Technology, Financial Services, Consumer Staples, and Health Care, among others.

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