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

Central Securities Corporation (NYSEAMERICAN:CET) was the target of 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. Based on an average daily volume of 20,085 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Central Securities Stock Performance

Shares of NYSEAMERICAN CET traded down $0.07 during trading hours on Thursday, reaching $56.46. 26,201 shares of the stock traded hands, compared to its average volume of 23,074. Central Securities has a 52-week low of $47.82 and a 52-week high of $57.39. The company’s 50-day simple moving average is $55.60 and its two-hundred day simple moving average is $53.16.

Insider Activity

In related news, CEO John C. Hill bought 500 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was bought at an average cost of $56.37 per share, for a total transaction of $28,185.00. Following the completion of the transaction, the chief executive officer owned 78,101 shares of the company’s stock, valued at approximately $4,402,553.37. The trade was a 0.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Central Securities

A number of large investors have recently bought and sold shares of the stock. Bulldog Investors LLP grew its stake in shares of Central Securities by 1.4% in the first quarter. Bulldog Investors LLP now owns 396,467 shares of the company’s stock worth $19,689,000 after purchasing an additional 5,521 shares during the last quarter. Brasada Capital Management LP purchased a new position in Central Securities during the second quarter valued at $6,137,000. Shaker Financial Services LLC boosted its stake in Central Securities by 195.2% during the third quarter. Shaker Financial Services LLC now owns 79,373 shares of the company’s stock worth $4,406,000 after acquiring an additional 52,489 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Central Securities by 4.9% in the 1st quarter. First Trust Advisors LP now owns 57,564 shares of the company’s stock worth $2,859,000 after buying an additional 2,709 shares during the last quarter. Finally, Evolve Private Wealth LLC bought a new position in Central Securities in the 2nd quarter worth about $2,453,000. 8.68% of the stock is owned by hedge funds and other institutional investors.

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.