General American Investors (NYSE:GAM) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

General American Investors, Inc. (NYSE:GAM)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $64.17 and traded as low as $63.90. General American Investors shares last traded at $64.0370, with a volume of 11,056 shares changing hands.

General American Investors Stock Up 1.5%

The firm’s 50 day moving average is $65.94 and its 200-day moving average is $64.18.

Insider Buying and Selling at General American Investors

In related news, Treasurer Samantha X. Jin purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was bought at an average price of $23.69 per share, for a total transaction of $47,380.00. Following the purchase, the treasurer owned 2,000 shares in the company, valued at $47,380. The trade was a ? increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eugene S. Stark acquired 5,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were bought at an average cost of $24.00 per share, for a total transaction of $120,000.00. Following the acquisition, the vice president owned 17,000 shares in the company, valued at $408,000. The trade was a 41.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 15,000 shares of company stock worth $350,950 over the last three months. Corporate insiders own 7.93% of the company’s stock.

Institutional Investors Weigh In On General American Investors

Several institutional investors and hedge funds have recently added to or reduced their stakes in GAM. Lazard Asset Management LLC raised its holdings in General American Investors by 13.1% in 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 during the period. Evolve Private Wealth LLC acquired a new position in General American Investors during the 2nd quarter worth $2,435,000. Allspring Global Investments Holdings LLC boosted its holdings in General American Investors by 9.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company’s stock valued at $25,197,000 after acquiring an additional 37,312 shares during the period. Capstone Investment Advisors LLC bought a new stake in General American Investors during the second quarter valued at about $2,285,000. Finally, Bank of America Corp DE acquired a new stake in shares of General American Investors in the second quarter valued at about $1,948,000. 36.85% of the stock is currently owned by institutional investors and hedge funds.

General American Investors Company Profile

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.