General American Investors Company, Inc. (NYSE:GAM) Sees Large Increase in Short Interest

General American Investors Company, Inc. (NYSE:GAM) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 13,300 shares, a growth of 22.0% from the October 15th total of 10,900 shares. Based on an average daily volume of 30,700 shares, the days-to-cover ratio is currently 0.4 days.

General American Investors Stock Performance

NYSE:GAM traded down $0.43 during trading hours on Friday, reaching $54.08. 65,905 shares of the company were exchanged, compared to its average volume of 29,562. General American Investors has a 52-week low of $40.87 and a 52-week high of $55.44. The stock has a 50 day simple moving average of $53.46 and a 200 day simple moving average of $51.14.

General American Investors Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, November 18th will be paid a $0.45 dividend. This represents a dividend yield of 0.8%. The ex-dividend date is Monday, November 18th.

Institutional Investors Weigh In On General American Investors

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of General American Investors by 122.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 686 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 378 shares during the period. Farther Finance Advisors LLC acquired a new position in General American Investors in the 3rd quarter worth $59,000. HighTower Advisors LLC grew its stake in shares of General American Investors by 7.7% during the third quarter. HighTower Advisors LLC now owns 21,547 shares of the investment management company’s stock valued at $1,157,000 after acquiring an additional 1,537 shares in the last quarter. Eastern Bank acquired a new stake in shares of General American Investors during the third quarter valued at about $92,000. Finally, Tyler Stone Wealth Management increased its position in shares of General American Investors by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 4,494 shares of the investment management company’s stock worth $241,000 after acquiring an additional 2,247 shares during the last quarter. 36.85% of the stock is currently owned by hedge funds and other institutional investors.

General American Investors Company Profile

General American Investors Company, Inc is a publicly owned investment manager. The firm invests in the public equity markets of United States. It invests in growth stocks of companies. It makes investments in Information Technology, Financials, Consumer Staples, Consumer Discretionary, Retailing, Communication Services, Industrials, Health Care, Energy and Materials.