Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
In a recent transaction filed with the Securities and Exchange Commission, the Trust FBO Altschul Arthur G UW Altschul Helen G, under the management of Arthur G. Altschul, Jr. as Trustee, sold 2,000 shares of General American Investors Co Inc (NYSE:GAM) Series B 5.95% Preferred Stock. The company, currently valued at $1.2 billion, maintains a strong financial position with an InvestingPro Financial Health Score of GREAT. The shares were sold at an average price of $24.8278 per share, amounting to a total of $49,655. Following this transaction, the trust no longer holds any shares of the preferred stock. The company’s common stock has delivered a 20.21% return over the past year and currently offers an attractive 8.88% dividend yield. For comprehensive insider trading analysis and additional financial metrics, consider subscribing to InvestingPro.
In other recent news, General American Investors Company, Inc. has declared a spill-over capital gain distribution of $0.25 per share for its common stock. This distribution is derived from net long-term profits on securities sold between November 1, 2024, and December 31, 2024, and will be taxable as long-term capital gain income. Stockholders of record as of February 24, 2025, are set to receive the cash payment on March 7, 2025, which will be included in their federal income tax returns for the year 2025. Additionally, the company has announced a dividend and distribution of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This payment is scheduled for March 24, 2025, to shareholders on record as of March 7, 2025, covering the accrual period from December 24, 2024, through March 23, 2025. The taxable portions of this distribution will be communicated to preferred shareholders in early 2026. General American Investors, with total net assets of approximately $1.4 billion, remains a significant player in the investment community. The aggregate liquidation value of its preferred stock is reported at $190 million.
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