Central Securities (NYSEAMERICAN:CET) Sets New 1-Year High – Here’s Why

Central Securities Corporation (NYSEAMERICAN:CET)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $55.68 and last traded at $55.3510, with a volume of 33686 shares changing hands. The stock had previously closed at $55.68.

Central Securities Price Performance

The business has a 50-day simple moving average of $52.87 and a 200 day simple moving average of $52.21.

Central Securities Dividend Announcement

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

Institutional Investors Weigh In On Central Securities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CET. Blue Bell Private Wealth Management LLC increased its stake in shares of Central Securities by 8.2% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 311,489 shares of the company’s stock worth $15,796,000 after purchasing an additional 23,696 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Central Securities by 2.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 803,728 shares of the company’s stock valued at $40,757,000 after buying an additional 17,776 shares in the last quarter. Brasada Capital Management LP lifted its stake in shares of Central Securities by 11.5% during the 4th quarter. Brasada Capital Management LP now owns 122,996 shares of the company’s stock valued at $6,240,000 after buying an additional 12,716 shares in the last quarter. Closed End Fund Advisors Inc. bought a new position in Central Securities in the 4th quarter worth $554,000. Finally, Bulldog Investors LLP boosted its holdings in Central Securities by 1.4% in the 1st quarter. Bulldog Investors LLP now owns 396,467 shares of the company’s stock worth $19,689,000 after buying an additional 5,521 shares during the period. 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.