Central Securities (NYSEAMERICAN:CET) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Shares of Central Securities Corporation (NYSEAMERICAN:CET) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $52.67 and traded as high as $53.44. Central Securities shares last traded at $53.44, with a volume of 39,837 shares changing hands.

Central Securities Price Performance

The business’s fifty day moving average price is $52.67 and its two-hundred day moving average price is $52.10.

Central Securities Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a yield of 117.0%.

Hedge Funds Weigh In On Central Securities

Several institutional investors and hedge funds have recently bought and sold shares of CET. Assetmark Inc. purchased a new stake in shares of Central Securities during the 4th quarter valued at $35,000. Bank of America Corp DE acquired a new stake in shares of Central Securities in the 2nd quarter worth $64,000. Williams Jones Wealth Management LLC. purchased a new position in Central Securities during the 3rd quarter worth $214,000. Robotti Robert purchased a new position in Central Securities during the 4th quarter worth $222,000. Finally, Jane Street Group LLC purchased a new position in Central Securities during the 4th quarter worth $230,000. 8.68% of the stock is owned by hedge funds and other institutional investors.

About Central Securities

Central Securities Corp. is a publicly owned investment manager. The firm invests in the public equity markets of the United States. It also invests on bonds, convertible bonds, preferred stocks, convertible preferred stocks, warrants, options real estate, or short-term obligations of governments, banks and corporations. Central Securities Corp. was founded on October 1, 1929 and is based in New York City.