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

General American Investors Company, Inc. (NYSE:GAM) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 10,900 shares, a decline of 37.4% from the September 30th total of 17,400 shares. Based on an average daily volume of 31,300 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On General American Investors

A number of hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of General American Investors by 122.7% during the 2nd 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 in the last quarter. BNP Paribas purchased a new position in shares of General American Investors in the first quarter worth $35,000. Farther Finance Advisors LLC bought a new position in General American Investors during the 3rd quarter valued at about $59,000. Eastern Bank bought a new position in General American Investors during the third quarter valued at approximately $92,000. Finally, Integrated Capital Management Inc. purchased a new position in shares of General American Investors in the 2nd quarter worth $206,000. 36.85% of the stock is currently owned by institutional investors.

General American Investors Stock Up 1.2 %

Shares of GAM traded up $0.63 during mid-day trading on Tuesday, reaching $53.97. 27,910 shares of the stock traded hands, compared to its average volume of 27,016. General American Investors has a 1 year low of $39.12 and a 1 year high of $54.19. The firm has a fifty day moving average price of $52.96 and a 200 day moving average price of $50.29.

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.