Central Securities Corporation (NYSEAMERICAN:CET – Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $56.75 and last traded at $56.4240, with a volume of 6294 shares. The stock had previously closed at $55.53.
Central Securities Stock Up 1.4%
The stock’s fifty day moving average is $54.34 and its two-hundred day moving average is $52.84.
Institutional Investors Weigh In On Central Securities
Large investors have recently modified their holdings of the stock. King Luther Capital Management Corp boosted its holdings in Central Securities by 4.9% in the 4th quarter. King Luther Capital Management Corp now owns 9,688 shares of the company’s stock valued at $491,000 after purchasing an additional 452 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Central Securities by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,957 shares of the company’s stock worth $556,000 after buying an additional 512 shares in the last quarter. Trust Co. of Vermont bought a new stake in Central Securities during the second quarter valued at $29,000. Northwestern Mutual Wealth Management Co. increased its stake in Central Securities by 62.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,756 shares of the company’s stock worth $92,000 after acquiring an additional 677 shares during the last quarter. Finally, IFP Advisors Inc purchased a new stake in shares of Central Securities in the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 8.68% of the company’s stock.
About Central Securities
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.
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