Advisors Asset Management Inc. Has $283,000 Position in General American Investors Company, Inc. (NYSE:GAM)

Advisors Asset Management Inc. lowered its holdings in General American Investors Company, Inc. (NYSE:GAMGet Rating) by 32.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,993 shares of the investment management company’s stock after selling 3,876 shares during the quarter. Advisors Asset Management Inc.’s holdings in General American Investors were worth $283,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC grew its position in General American Investors by 3.8% in the 2nd quarter. Park Avenue Securities LLC now owns 35,479 shares of the investment management company’s stock valued at $1,255,000 after purchasing an additional 1,298 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in General American Investors by 1.2% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 636,680 shares of the investment management company’s stock worth $22,513,000 after acquiring an additional 7,797 shares during the last quarter. Cannell & Co. boosted its holdings in General American Investors by 1.2% during the 1st quarter. Cannell & Co. now owns 46,604 shares of the investment management company’s stock worth $1,979,000 after acquiring an additional 558 shares during the last quarter. Prospera Financial Services Inc purchased a new position in General American Investors during the 1st quarter worth $129,000. Finally, Shaker Financial Services LLC boosted its holdings in General American Investors by 75.3% during the 1st quarter. Shaker Financial Services LLC now owns 192,403 shares of the investment management company’s stock worth $8,171,000 after acquiring an additional 82,667 shares during the last quarter. Institutional investors and hedge funds own 21.96% of the company’s stock.

General American Investors Stock Up 1.0 %

GAM opened at $37.05 on Monday. The firm’s fifty day moving average price is $35.52 and its two-hundred day moving average price is $36.55. General American Investors Company, Inc. has a 1 year low of $33.23 and a 1 year high of $45.53.

General American Investors Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, December 29th. Shareholders of record on Monday, November 14th will be issued a dividend of $1.00 per share. This represents a yield of 2.83%. This is an increase from General American Investors’s previous annual dividend of $0.50. The ex-dividend date of this dividend is Friday, November 11th.

Insiders Place Their Bets

In other news, insider Anang K. Majmudar acquired 1,300 shares of the business’s stock in a transaction on Friday, October 28th. The shares were purchased at an average cost of $24.97 per share, with a total value of $32,461.00. Following the acquisition, the insider now directly owns 2,500 shares of the company’s stock, valued at $62,425. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 2,899 shares of company stock valued at $76,942 in the last three months. 8.12% of the stock is currently owned by insiders.

About General American Investors

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding GAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General American Investors Company, Inc. (NYSE:GAMGet Rating).

Institutional Ownership by Quarter for General American Investors (NYSE:GAM)

Receive News & Ratings for General American Investors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General American Investors and related companies with MarketBeat.com's FREE daily email newsletter.