General American Investors (NYSE:GAM) Stock Crosses Above 200 Day Moving Average – Here’s Why

General American Investors, Inc. (NYSE:GAM)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $63.52 and traded as high as $65.65. General American Investors shares last traded at $65.42, with a volume of 43,878 shares.

General American Investors Price Performance

The business has a 50 day moving average price of $64.69 and a 200 day moving average price of $63.52.

General American Investors Increases Dividend

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

Insider Transactions at General American Investors

In other news, Treasurer Samantha 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, with a total value of $47,380.00. Following the acquisition, the treasurer directly owned 2,000 shares of the company’s stock, valued at approximately $47,380. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Eugene Stark purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of $24.00 per share, with a total value of $120,000.00. Following the acquisition, the vice president directly owned 17,000 shares in the company, valued at $408,000. This trade represents a 41.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 15,000 shares of company stock valued at $350,950 over the last three months. 7.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GAM. Lazard Asset Management LLC boosted its holdings in shares of General American Investors by 13.1% in the first quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company’s stock valued at $92,422,000 after buying an additional 183,051 shares during the period. Blue Bell Private Wealth Management LLC raised its holdings in shares of General American Investors by 1.2% during the third quarter. Blue Bell Private Wealth Management LLC now owns 835,331 shares of the investment management company’s stock worth $52,993,000 after acquiring an additional 9,845 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 worth $25,197,000 after acquiring an additional 37,312 shares during the period. First Trust Advisors LP raised its holdings in shares of General American Investors by 10.1% during the first quarter. First Trust Advisors LP now owns 42,898 shares of the investment management company’s stock worth $2,508,000 after acquiring an additional 3,940 shares during the period. Finally, Samalin Investment Counsel LLC raised its holdings in shares of General American Investors by 63.8% during the third quarter. Samalin Investment Counsel LLC now owns 41,332 shares of the investment management company’s stock worth $2,622,000 after acquiring an additional 16,098 shares during the period. 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.