Central Securities (NYSEAMERICAN:CET) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Shares of Central Securities Corporation (NYSEAMERICAN:CET) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $52.67 and traded as high as $53.44. Central Securities shares last traded at $53.44, with a volume of 39,837 shares.

Central Securities Trading Up 2.0%

The company’s fifty day moving average price is $52.67 and its 200-day moving average price is $52.10.

Central Securities Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CET. Royal Bank of Canada lifted its stake in shares of 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 during the period. Raymond James Financial Inc. increased its position in shares of Central Securities by 1.8% in the 2nd quarter. Raymond James Financial Inc. now owns 305,304 shares of the company’s stock valued at $14,612,000 after acquiring an additional 5,511 shares during the period. Bank of America Corp DE acquired a new position in shares of Central Securities in the 2nd quarter valued at $64,000. Osaic Holdings Inc. raised its stake in Central Securities by 15.1% in the 2nd quarter. Osaic Holdings Inc. now owns 10,052 shares of the company’s stock worth $481,000 after acquiring an additional 1,322 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Central Securities by 10.2% in the 3rd quarter. First Trust Advisors LP now owns 49,671 shares of the company’s stock worth $2,552,000 after acquiring an additional 4,586 shares during the last quarter. Hedge funds and other institutional investors own 8.68% of the company’s stock.

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.