General American Investors (NYSE:GAM) Reaches New 1-Year High After Dividend Announcement

General American Investors Company, Inc. (NYSE:GAM)’s stock price reached a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $54.81 and last traded at $54.38, with a volume of 4526 shares changing hands. The stock had previously closed at $54.06.

The newly announced dividend which will be paid on Friday, December 27th. Shareholders of record on Monday, November 18th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a yield of 0.8%.

General American Investors Stock Up 0.8 %

The company’s fifty day moving average is $53.20 and its two-hundred day moving average is $50.75.

Institutional Trading of General American Investors

Institutional investors have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC grew its stake in General American Investors by 3.7% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 675,276 shares of the investment management company’s stock worth $33,575,000 after buying an additional 24,196 shares during the last quarter. Cornerstone Advisors LLC raised its position in General American Investors by 24.8% in the 2nd quarter. Cornerstone Advisors LLC now owns 441,951 shares of the investment management company’s stock valued at $21,974,000 after purchasing an additional 87,843 shares during the last quarter. Pathstone Holdings LLC boosted its stake in General American Investors by 31.9% during the 3rd quarter. Pathstone Holdings LLC now owns 330,584 shares of the investment management company’s stock worth $17,731,000 after purchasing an additional 79,975 shares during the period. Shaker Financial Services LLC grew its position in General American Investors by 41.9% during the 2nd quarter. Shaker Financial Services LLC now owns 108,528 shares of the investment management company’s stock worth $5,396,000 after purchasing an additional 32,065 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its stake in General American Investors by 22.8% in the second quarter. Wolverine Asset Management LLC now owns 68,305 shares of the investment management company’s stock valued at $3,396,000 after purchasing an additional 12,663 shares during the period. Hedge funds and other institutional investors own 36.85% of the company’s stock.

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.