Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Craig Anthony Grassi, Vice-President of General American Investors Co Inc (NYSE:GAM), a $1.18 billion closed-end investment fund with a strong dividend track record spanning 54 years, recently acquired 100 shares of the company’s 5.95% Preferred Stock at a price of $24.70 per share. This transaction, completed on March 7, 2025, amounts to a total value of $2,470. Following this acquisition, Grassi holds 1,100 shares of the preferred stock indirectly through his spouse’s IRA account. Additionally, Grassi maintains ownership of common stock through a Thrift Plan Trust, holding a total of 73,127 shares. InvestingPro analysis reveals the company maintains excellent financial health with a "GREAT" overall score and an attractive current dividend yield of 8.88%. For deeper insights into insider trading patterns and additional ProTips, consider exploring 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 stems from net long-term profits on securities sold during the last two months of 2024 and is expected to be taxable as long-term capital gain income. Stockholders of record as of February 24, 2025, will 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’s Board of Directors announced a dividend and distribution of $0.371875 per share on its 5.95% cumulative preferred stock, series B. This cash payment is scheduled for March 24, 2025, for 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, which has been publicly traded since 1927, reports total net assets of approximately $1.4 billion across 23.5 million shares of common stock. The aggregate liquidation value of the preferred stock is reported at $190 million.
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