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Consolidated Condensed Statements of Cash Flows - USD ($)
 3 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Cash flows from operating activities:    
Net income $ 5,117,000 $ 3,690,000
Adjustments to reconcile net income to net cash (used in)/provided by operating activities:    
Depreciation and amortization 314,000 71,000
Realized gain on sale of equity securities (783,000)
Non-voting revenues interest in EAM Trust (3,280,000) (2,588,000)
Non-voting profits interest in EAM Trust (364,000) (283,000)
Distributions received from EAM Trust 3,065,000 2,525,000
Deferred income taxes 45,000 61,000
Deferred rent (234,000) 28,000
Changes in operating assets and liabilities:    
Unearned revenue (1,394,000) (1,989,000)
Accounts payable & accrued expenses (566,000) (602,000)
Accrued salaries (86,000) (75,000)
Accrued taxes on income 725,000 975,000
Prepaid and refundable income taxes 254,000
Prepaid expenses and other current assets 8,000 77,000
Accounts receivable 2,859,000 (2,246,000)
Total adjustments 309,000 (3,792,000)
Net cash (used in)/provided by operating activities 5,426,000 (102,000)
Cash flows from investing activities:    
Purchase of equity securities classified as available-for-sale (6,127,000) (399,000)
Purchases of fixed income securities classified as available-for-sale (2,496,000) (3,222,000)
Proceeds from sales of equity securities classified as available-for-sale 4,637,000
Proceeds from sales of fixed income securities classified as available-for-sale 3,464,000 2,973,000
Acquisition of property and equipment (7,000)
Expenditures for capitalized software (82,000)
Net cash used in investing activities (611,000) (648,000)
Cash flows from financing activities:    
Purchase of treasury stock at cost (92,000)
Receivable from clearing broker 608,000
Payable to clearing broker (588,000)
Dividends paid (2,020,000) (1,933,000)
Net cash used in financing activities (2,000,000) (2,025,000)
Net change in cash and cash equivalents 2,815,000 (2,775,000)
Cash, cash equivalents and restricted cash at beginning of period 5,423,000 6,962,000
Cash, cash equivalents and restricted cash at end of period $ 8,238,000 $ 4,187,000