Short Interest in General American Investors, Inc. (NYSE:GAM) Drops By 48.6%

General American Investors, Inc. (NYSE:GAM) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 3,231 shares, a decline of 48.6% from the May 14th total of 6,285 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 29,764 shares, the days-to-cover ratio is currently 0.1 days.

General American Investors Stock Performance

Shares of GAM stock traded up $0.57 during trading hours on Friday, hitting $63.42. The company had a trading volume of 17,631 shares, compared to its average volume of 30,691. The company’s fifty day moving average is $63.40 and its 200 day moving average is $61.10. General American Investors has a fifty-two week low of $53.78 and a fifty-two week high of $66.18.

Insiders Place Their Bets

In other news, VP Eugene S. Stark bought 6,151 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were bought at an average cost of $24.86 per share, for a total transaction of $152,913.86. Following the acquisition, the vice president directly owned 34,000 shares of the company’s stock, valued at $845,240. This trade represents a 22.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have bought 7,662 shares of company stock valued at $190,328. Insiders own 7.93% of the company’s stock.

Hedge Funds Weigh In On General American Investors

Large investors have recently made changes to their positions in the stock. Birchwood Financial Partners Inc. acquired a new position in shares of General American Investors in the 4th quarter worth approximately $54,000. PNC Financial Services Group Inc. lifted its holdings in shares of General American Investors by 10.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,775 shares of the investment management company’s stock worth $163,000 after acquiring an additional 273 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of General American Investors by 10.9% in the 4th quarter. Harbour Investments Inc. now owns 3,018 shares of the investment management company’s stock worth $177,000 after acquiring an additional 297 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC acquired a new position in shares of General American Investors in the 3rd quarter worth approximately $211,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of General American Investors in the 3rd quarter worth approximately $214,000. 36.85% of the stock is currently owned by institutional investors and hedge funds.

About General American Investors

General American Investors Company, Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the ticker GAM. The firm primarily allocates capital to equity and equity-related securities of publicly traded companies, aiming to generate long-term capital appreciation for its shareholders. Its flexible mandate allows investment across a broad range of industries and market capitalizations.

The company follows a value-oriented, fundamental research approach, conducting in-depth analysis to identify undervalued businesses with strong growth potential.