Central Securities (NYSEAMERICAN:CET) Sets New 12-Month High – Here’s Why

Central Securities Corporation (NYSEAMERICAN:CET) shares reached a new 52-week high during trading on Monday . The stock traded as high as $54.65 and last traded at $53.2050, with a volume of 2447 shares trading hands. The stock had previously closed at $52.50.

Central Securities Stock Down 0.4%

The firm has a fifty day simple moving average of $52.71 and a 200 day simple moving average of $51.69.

Central Securities Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a $0.31 dividend. This represents a dividend yield of 117.0%. The ex-dividend date of this dividend is Friday, June 12th.

Hedge Funds Weigh In On Central Securities

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. acquired a new position in Central Securities during the 3rd quarter worth approximately $2,562,000. Blue Bell Private Wealth Management LLC lifted its position in Central Securities by 8.2% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 311,489 shares of the company’s stock worth $15,796,000 after acquiring an additional 23,696 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Central Securities during the 3rd quarter worth approximately $537,000. Bulldog Investors LLP lifted its position in Central Securities by 4.9% during the 3rd quarter. Bulldog Investors LLP now owns 386,046 shares of the company’s stock worth $19,831,000 after acquiring an additional 17,962 shares in the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new position in Central Securities during the 4th quarter worth approximately $554,000. 8.68% of the stock is owned by institutional investors and hedge funds.

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.