Central Securities (NYSEAMERICAN:CET) Hits New 12-Month High – Here’s What Happened

Central Securities Corporation (NYSEAMERICAN:CET) shares hit a new 52-week high on Monday . The company traded as high as $56.75 and last traded at $56.4240, with a volume of 6294 shares trading hands. The stock had previously closed at $55.53.

Central Securities Stock Up 1.4%

The stock’s 50 day simple moving average is $54.34 and its 200 day simple moving average is $52.84.

Institutional Investors Weigh In On Central Securities

A number of large investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in shares of Central Securities in the 2nd quarter worth about $29,000. IFP Advisors Inc bought a new stake in Central Securities in the 2nd quarter worth approximately $42,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Central Securities in the second quarter worth approximately $92,000. Robotti Robert purchased a new stake in Central Securities in the second quarter worth approximately $230,000. Finally, Susquehanna International Group LLP bought a new position in Central Securities during the second quarter valued at approximately $269,000. Hedge funds and other institutional investors own 8.68% of the company’s stock.

Central Securities Company Profile

Central Securities Corp. (NYSE American: CET) is a diversified, closed-end management investment company. Its primary objective is long-term capital appreciation, with current income considered a secondary objective. Rather than operating a conventional commercial business, the company invests shareholders’ capital in a portfolio of securities.

The fund invests primarily in publicly traded equity securities, while also maintaining exposure to other investments, including fixed-income securities and privately held companies when deemed appropriate.