Short Interest in Central Securities Corporation (NYSEAMERICAN:CET) Rises By 368.4%

Central Securities Corporation (NYSEAMERICAN:CET) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 18,942 shares, an increase of 368.4% from the April 30th total of 4,044 shares. Based on an average daily trading volume, of 39,439 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the shares of the stock are short sold.

Central Securities Price Performance

Shares of CET opened at $53.10 on Friday. Central Securities has a 1 year low of $45.89 and a 1 year high of $54.28. The stock has a 50 day simple moving average of $51.89 and a 200-day simple moving average of $51.39.

Hedge Funds Weigh In On Central Securities

Hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. acquired a new position in shares of Central Securities in the 3rd quarter worth approximately $2,562,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Central Securities by 8.2% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 311,489 shares of the company’s stock worth $15,796,000 after buying an additional 23,696 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Central Securities in the 3rd quarter worth approximately $537,000. Bulldog Investors LLP raised its holdings in shares of 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 buying an additional 17,962 shares in the last quarter. Finally, Formidable Asset Management LLC acquired a new position in shares of Central Securities in the 4th quarter worth approximately $522,000. 8.68% of the stock is owned by institutional investors and hedge funds.

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.