General American Investors (NYSE:GAM) Insider Purchases $46,160.00 in Stock

General American Investors, Inc. (NYSE:GAM) insider Craig Grassi bought 2,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average cost of $23.08 per share, with a total value of $46,160.00. Following the completion of the transaction, the insider owned 3,100 shares in the company, valued at $71,548. This represents a 181.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

General American Investors Stock Performance

Shares of GAM opened at $64.52 on Friday. The firm’s fifty day simple moving average is $66.01 and its 200-day simple moving average is $63.88. General American Investors, Inc. has a twelve month low of $56.24 and a twelve month high of $68.57.

Hedge Funds Weigh In On General American Investors

A number of large investors have recently modified their holdings of the business. Readystate Asset Management LP purchased a new position in General American Investors during the 2nd quarter valued at about $391,000. Susquehanna International Group LLP purchased a new stake in shares of General American Investors in the second quarter valued at about $265,000. IMC Chicago LLC purchased a new stake in shares of General American Investors in the second quarter valued at about $314,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of General American Investors by 32.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,656 shares of the investment management company’s stock worth $169,000 after purchasing an additional 657 shares in the last quarter. Finally, United Capital Financial Advisors LLC acquired a new position in shares of General American Investors during the 2nd quarter worth approximately $532,000. 36.85% of the stock is owned by hedge funds and other institutional investors.

About General American Investors

General American Investors Company, Inc is a publicly traded closed-end investment company that seeks long-term capital appreciation through investments in a diversified portfolio of securities. The company’s shares trade on the New York Stock Exchange under the symbol GAM.

Founded in 1927, General American Investors is one of the oldest closed-end investment companies in the United States. Its portfolio has historically included common stocks, convertible securities and other investments, with an emphasis on identifying companies that may offer attractive long-term growth potential.

The company invests primarily in publicly traded businesses across a range of industries and may hold investments in both U.S.