Central Securities (NYSE:CET) Hits New 12-Month High - What's Next?

Key Points

• Shares of Central Securities Co. reached a new 52-week high of $51.16 during trading, last closing at $50.80.
• Several institutional investors, including Accel Wealth Management and Farther Finance Advisors, have recently increased their stakes in Central Securities Co., indicating growing interest in the stock.
• The company is primarily focused on managing investments in public equity markets, as well as various financial instruments including bonds and real estate.

Central Securities Co. (NYSE:CET - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $51.16 and last traded at $50.80, with a volume of 3605 shares changing hands. The stock had previously closed at $50.76.

Central Securities Price Performance

The company's 50-day moving average is $49.39 and its two-hundred day moving average is $46.87.

Hedge Funds Weigh In On Central Securities

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in shares of Central Securities by 763.5% in the first quarter. Farther Finance Advisors LLC now owns 639 shares of the company's stock worth $29,000 after acquiring an additional 565 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Central Securities in the first quarter worth approximately $42,000. Ameritas Advisory Services LLC purchased a new position in Central Securities during the second quarter valued at approximately $63,000. Bank of America Corp DE purchased a new position in Central Securities during the second quarter valued at approximately $64,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Central Securities during the second quarter valued at approximately $201,000. Institutional investors and hedge funds 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.