Short Interest in Central Securities Corporation (NYSEAMERICAN:CET) Decreases By 79.0%
by Danessa Lincoln · The Markets DailyCentral Securities Corporation (NYSEAMERICAN:CET – Get Free Report) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 3,969 shares, a drop of 79.0% from the May 14th total of 18,942 shares. Based on an average daily volume of 28,205 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.
Central Securities Stock Performance
NYSEAMERICAN CET traded up $0.76 during mid-day trading on Thursday, hitting $52.50. The stock had a trading volume of 36,393 shares, compared to its average volume of 31,244. Central Securities has a 52-week low of $46.47 and a 52-week high of $54.28. The company has a 50 day simple moving average of $52.53 and a 200 day simple moving average of $51.61.
Central Securities Announces Dividend
The company also recently disclosed a dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.31 dividend. This represents a yield of 116.0%. The ex-dividend date of this dividend is Friday, June 12th.
Hedge Funds Weigh In On Central Securities
Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Central Securities by 3.9% during the first quarter. Royal Bank of Canada now owns 66,549 shares of the company’s stock worth $2,993,000 after buying an additional 2,521 shares in the last quarter. Raymond James Financial Inc. increased its position in Central Securities by 1.8% during the second quarter. Raymond James Financial Inc. now owns 305,304 shares of the company’s stock worth $14,612,000 after buying an additional 5,511 shares in the last quarter. Bank of America Corp DE purchased a new position in Central Securities during the second quarter worth $64,000. Osaic Holdings Inc. increased its position in Central Securities by 15.1% during the second quarter. Osaic Holdings Inc. now owns 10,052 shares of the company’s stock worth $481,000 after buying an additional 1,322 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in Central Securities during the third quarter worth $537,000. 8.68% of the stock is owned by hedge funds and other institutional investors.
Central Securities Company Profile
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.