Central Securities (NYSE:CET) Shares Down 4.7% – Here’s Why

Shares of Central Securities Co. (NYSE:CET) fell 4.7% during trading on Friday . The stock traded as low as $48.07 and last traded at $48.65. 28,282 shares were traded during mid-day trading, an increase of 1% from the average session volume of 27,876 shares. The stock had previously closed at $51.03.

Central Securities Price Performance

The firm’s 50-day moving average price is $51.08 and its 200 day moving average price is $48.87.

Central Securities Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 14th will be given a $2.45 dividend. This represents a dividend yield of 1,005.0%. The ex-dividend date is Friday, November 14th.

Institutional Trading of Central Securities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CET. Ameritas Advisory Services LLC acquired a new position in Central Securities in the 2nd quarter valued at about $63,000. Bank of America Corp DE purchased a new stake in shares of Central Securities during the second quarter worth about $64,000. Johnson Investment Counsel Inc. acquired a new position in shares of Central Securities in the second quarter valued at approximately $201,000. Vista Investment Partners II LLC purchased a new position in shares of Central Securities during the third quarter valued at approximately $203,000. Finally, Stolper Co acquired a new stake in Central Securities during the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 8.68% of the company’s stock.

Central Securities Company Profile

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.