General American Investors, Inc. (NYSE:GAM) Shares Shorted: Short Interest Up 3,143.8% in September

General American Investors, Inc. (NYSE:GAM) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 8,142 shares, a growth of 3,143.8% from the August 31st total of 251 shares. Based on an average trading volume of 16,856 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the shares of the company are short sold.

General American Investors Trading Down 0.4%

GAM traded down $0.23 during trading hours on Thursday, hitting $64.57. The stock had a trading volume of 16,682 shares, compared to its average volume of 27,290. General American Investors has a 1 year low of $56.24 and a 1 year high of $68.57. The company’s fifty day simple moving average is $66.01 and its 200 day simple moving average is $63.85.

Insider Buying and Selling

In other news, Treasurer Samantha X. Jin bought 2,000 shares of the firm’s stock in a transaction on Thursday, September 17th. The stock was acquired at an average cost of $23.69 per share, with a total value of $47,380.00. Following the completion of the transaction, the treasurer directly owned 2,000 shares of the company’s stock, valued at $47,380. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Grassi bought 2,000 shares of the stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average price of $23.08 per share, for a total transaction of $46,160.00. Following the completion of the purchase, the insider owned 3,100 shares of the company’s stock, valued at approximately $71,548. This trade represents a 181.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 15,000 shares of company stock valued at $350,950. 7.93% of the stock is owned by company insiders.

Institutional Trading of General American Investors

A number of institutional investors have recently modified their holdings of GAM. Lazard Asset Management LLC grew its stake in General American Investors by 13.1% in the 1st 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 in the last quarter. Evolve Private Wealth LLC purchased a new position in shares of General American Investors in the second quarter valued at $2,435,000. Allspring Global Investments Holdings LLC boosted its stake in General American Investors by 9.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company’s stock worth $25,197,000 after purchasing an additional 37,312 shares during the period. Capstone Investment Advisors LLC purchased a new position in General American Investors during the 2nd quarter valued at about $2,285,000. Finally, Bank of America Corp DE purchased a new stake in shares of General American Investors in the second quarter worth about $1,948,000. 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 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.