Central Securities Corporation (NYSEAMERICAN:CET) Sees Significant Decrease in Short Interest

Key Points

• Short interest decreased 43.8% to 5,001 shares as of April 15, representing 0.0% of shares sold short and a days-to-cover of 0.1 based on average daily volume.
• Institutional ownership is 8.68%, led by Rockefeller Capital Management with 803,728 shares (~$40.76M), while firms like Formidable, Cetera and First Manhattan modestly increased holdings and Evolve opened a new position.
• Shares traded up 0.3% to $53.19 on Monday with volume of ~33,977, trading near its 52-week high of $53.88 and above its 50- and 200-day moving averages (~$51.27 and $51.08).

Central Securities Corporation (NYSEAMERICAN:CET - ) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 5,001 shares, a decrease of 43.8% from the March 31st total of 8,896 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 34,770 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Central Securities

Several large investors have recently added to or reduced their stakes in the stock. Formidable Asset Management LLC grew its holdings in Central Securities by 8.1% in the 1st quarter. Formidable Asset Management LLC now owns 10,990 shares of the company's stock valued at $557,000 after buying an additional 823 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Central Securities by 2.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 803,728 shares of the company's stock valued at $40,757,000 after purchasing an additional 17,776 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in shares of Central Securities in the 4th quarter valued at $2,521,000. First Manhattan CO. LLC. lifted its stake in shares of Central Securities by 4.8% in the 4th quarter. First Manhattan CO. LLC. now owns 15,799 shares of the company's stock valued at $801,000 after purchasing an additional 728 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Central Securities by 1.7% in the 4th quarter. Cetera Investment Advisers now owns 44,764 shares of the company's stock valued at $2,270,000 after purchasing an additional 762 shares during the last quarter. 8.68% of the stock is currently owned by hedge funds and other institutional investors.

Central Securities Stock Up 0.3%

NYSEAMERICAN:CET traded up $0.14 during trading hours on Monday, hitting $53.19. The company had a trading volume of 33,977 shares, compared to its average volume of 34,863. The company has a 50-day moving average of $51.27 and a 200 day moving average of $51.08. Central Securities has a 1 year low of $43.19 and a 1 year high of $53.88.

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. Central Securities Corp. was founded on October 1, 1929 and is based in New York City.

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