Central Securities (NYSE:CET) Sees Large Volume Increase – Should You Buy?

Shares of Central Securities Co. (NYSE:CET) saw an uptick in trading volume on Friday . 49,406 shares traded hands during trading, an increase of 63% from the previous session’s volume of 30,252 shares.The stock last traded at $50.8450 and had previously closed at $50.71.

Central Securities Price Performance

The stock’s fifty day simple moving average is $50.40 and its two-hundred day simple moving average is $49.86.

Central Securities Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 14th were issued a dividend of $2.45 per share. This represents a yield of 1,003.0%. The ex-dividend date was Friday, November 14th.

Institutional Investors Weigh In On Central Securities

A number of institutional investors and hedge funds have recently modified their holdings of CET. Pinnacle Associates Ltd. bought a new stake in shares of Central Securities during the 3rd quarter worth $2,562,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Central Securities by 14.8% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 287,793 shares of the company’s stock valued at $14,784,000 after purchasing an additional 37,099 shares during the period. Shaker Financial Services LLC boosted its position in shares of Central Securities by 17.1% in the 2nd quarter. Shaker Financial Services LLC now owns 211,722 shares of the company’s stock valued at $10,133,000 after purchasing an additional 30,909 shares during the period. Bulldog Investors LLP increased its stake in Central Securities by 4.9% in the 3rd quarter. Bulldog Investors LLP now owns 386,046 shares of the company’s stock worth $19,831,000 after purchasing an additional 17,962 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in Central Securities during the 3rd quarter worth about $537,000. Institutional investors and hedge funds own 8.68% of the company’s stock.

Central Securities Company Profile

Central Securities Corporation (NYSE: CET) is a diversified, closed-end management investment company that has operated since its incorporation in 1927. Listed on the New York Stock Exchange, the company offers investors access to a blend of equity and fixed-income strategies within a single vehicle. Headquartered in St. Louis, Missouri, Central Securities seeks to deliver total return through a combination of dividend income and capital appreciation.

The company’s investment strategy emphasizes a core allocation to U.S.