Central Securities Corporation (NYSEAMERICAN:CET) Sees Significant Drop in Short Interest

Central Securities Corporation (NYSEAMERICAN:CETGet Free Report) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 3,969 shares, a decrease of 79.0% from the May 14th total of 18,942 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 28,205 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its position in Central Securities by 4.9% in the first quarter. First Trust Advisors LP now owns 57,564 shares of the company’s stock worth $2,859,000 after acquiring an additional 2,709 shares during the period. Bulldog Investors LLP grew its position in Central Securities by 1.4% in the first quarter. Bulldog Investors LLP now owns 396,467 shares of the company’s stock worth $19,689,000 after acquiring an additional 5,521 shares during the period. Formidable Asset Management LLC grew its position in Central Securities by 8.1% in the first quarter. Formidable Asset Management LLC now owns 10,990 shares of the company’s stock worth $557,000 after acquiring an additional 823 shares during the period. Rockefeller Capital Management L.P. grew its position in Central Securities by 2.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 803,728 shares of the company’s stock worth $40,757,000 after acquiring an additional 17,776 shares during the period. Finally, Evolve Private Wealth LLC purchased a new position in Central Securities in the fourth quarter worth approximately $2,521,000. 8.68% of the stock is currently owned by hedge funds and other institutional investors.

Central Securities Price Performance

Shares of CET stock traded down $0.97 during trading hours on Wednesday, reaching $51.74. The company had a trading volume of 44,160 shares, compared to its average volume of 40,808. The stock has a fifty day moving average of $52.41 and a 200-day moving average of $51.56. Central Securities has a 12-month low of $46.47 and a 12-month high of $54.28.

Central Securities Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.31 dividend. This represents a yield of 116.0%. The ex-dividend date is Friday, June 12th.

Central Securities Company Profile

(Get Free Report)

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.

Further Reading

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