General American Investors, Inc. $GAM Shares Sold by 1607 Capital Partners LLC

1607 Capital Partners LLC reduced its stake in shares of General American Investors, Inc. (NYSE:GAM) by 3.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 277,489 shares of the investment management company’s stock after selling 8,504 shares during the quarter. General American Investors accounts for approximately 1.1% of 1607 Capital Partners LLC’s investment portfolio, making the stock its 16th biggest holding. 1607 Capital Partners LLC’s holdings in General American Investors were worth $16,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of General American Investors by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,775 shares of the investment management company’s stock worth $163,000 after purchasing an additional 273 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of General American Investors by 10.9% during the fourth quarter. Harbour Investments Inc. now owns 3,018 shares of the investment management company’s stock worth $177,000 after purchasing an additional 297 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC purchased a new position in shares of General American Investors during the third quarter worth $211,000. CIBC Bancorp USA Inc. purchased a new position in shares of General American Investors during the third quarter worth $214,000. Finally, Osaic Holdings Inc. raised its holdings in shares of General American Investors by 41.6% during the second quarter. Osaic Holdings Inc. now owns 3,755 shares of the investment management company’s stock worth $210,000 after purchasing an additional 1,103 shares during the last quarter. 36.85% of the stock is currently owned by institutional investors and hedge funds.

General American Investors Price Performance

Shares of General American Investors stock opened at $63.72 on Thursday. The firm has a fifty day moving average price of $63.70 and a 200 day moving average price of $61.24. General American Investors, Inc. has a 1 year low of $53.78 and a 1 year high of $66.18.

Insider Activity

In other General American Investors news, VP Eugene S. Stark bought 6,151 shares of General American Investors stock in a transaction that occurred on Wednesday, April 8th. The stock was purchased at an average price of $24.86 per share, with a total value of $152,913.86. Following the completion of the acquisition, the vice president directly owned 34,000 shares in the company, valued at approximately $845,240. This trade represents a 22.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 7,662 shares of company stock worth $190,328 over the last three months. Company insiders own 7.93% of the company’s stock.

General American Investors Profile

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.