Central Securities (NYSEAMERICAN:CET) Shares Pass Below 50 Day Moving Average – Here’s What Happened

Shares of Central Securities Corporation (NYSEAMERICAN:CET) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $51.60 and traded as low as $49.67. Central Securities shares last traded at $50.30, with a volume of 23,531 shares trading hands.

Central Securities Price Performance

The company has a 50-day simple moving average of $51.60 and a 200-day simple moving average of $51.05.

Insider Buying and Selling at Central Securities

In other Central Securities news, CEO John C. Hill purchased 500 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average cost of $50.91 per share, with a total value of $25,455.00. Following the completion of the acquisition, the chief executive officer directly owned 77,373 shares of the company’s stock, valued at $3,939,059.43. This represents a 0.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Central Securities

A number of hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. bought a new position in shares of Central Securities in the fourth quarter worth about $35,000. Bank of America Corp DE acquired a new position in shares of Central Securities during the second quarter worth approximately $64,000. Noble Wealth Management PBC bought a new stake in shares of Central Securities during the fourth quarter valued at approximately $73,000. Vista Investment Partners II LLC bought a new stake in shares of Central Securities during the third quarter valued at approximately $203,000. Finally, Level Four Advisory Services LLC acquired a new stake in shares of Central Securities in the third quarter valued at approximately $212,000. 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.