Central Securities Corporation (NYSEAMERICAN:CET) Stock Short Interest Drops 73.2%

Central Securities Corporation (NYSEAMERICAN:CET) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 2,676 shares, a decline of 73.2% from the September 30th total of 9,981 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 20,085 shares, the short-interest ratio is presently 0.1 days.

Central Securities Stock Performance

NYSEAMERICAN CET traded up $0.23 on Wednesday, reaching $56.48. 14,503 shares of the stock traded hands, compared to its average volume of 35,786. The firm’s fifty day simple moving average is $55.52 and its 200 day simple moving average is $53.12. Central Securities has a 12 month low of $47.82 and a 12 month high of $57.39.

Insider Activity

In other Central Securities news, CEO John C. Hill purchased 500 shares of the stock in a transaction dated Tuesday, October 6th. The shares were bought at an average cost of $56.37 per share, with a total value of $28,185.00. Following the completion of the acquisition, the chief executive officer owned 78,101 shares of the company’s stock, valued at approximately $4,402,553.37. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CET. Evolve Private Wealth LLC acquired a new position in shares of Central Securities in the second quarter worth $2,453,000. Brasada Capital Management LP bought a new position in shares of Central Securities during the 2nd quarter worth about $6,137,000. Shaker Financial Services LLC raised its holdings in Central Securities by 195.2% in the 3rd quarter. Shaker Financial Services LLC now owns 79,373 shares of the company’s stock valued at $4,406,000 after acquiring an additional 52,489 shares in the last quarter. Roberts Glore & Co. Inc. IL acquired a new stake in Central Securities during the second quarter worth $1,822,000. Finally, S&CO Inc. bought a new position in Central Securities during the second quarter worth about $798,000. 8.68% of the stock is owned by institutional investors and hedge funds.

About Central Securities

Central Securities Corporation (NYSE American: CET) is a diversified closed-end investment company. Rather than operating businesses or selling products directly, the company invests capital in a portfolio of securities with the objective of achieving long-term capital appreciation, while also seeking current income as a secondary objective.

The company’s portfolio may include publicly traded common stocks, convertible securities, fixed-income investments and investments in privately held companies.