Tri Continental (NYSE:TY) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Tri Continental Corporation (NYSE:TY) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $32.57 and traded as high as $34.50. Tri Continental shares last traded at $34.4050, with a volume of 20,916 shares.

Tri Continental Trading Up 0.7%

The firm has a fifty day moving average price of $33.98 and a 200 day moving average price of $32.57.

Tri Continental Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 16th were issued a $0.2654 dividend. This represents a $1.06 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, September 16th.

Institutional Investors Weigh In On Tri Continental

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TY. Allspring Global Investments Holdings LLC lifted its position in Tri Continental by 12.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 311,551 shares of the investment management company’s stock valued at $9,864,000 after buying an additional 35,000 shares during the last quarter. Bard Financial Services Inc. lifted its holdings in shares of Tri Continental by 6.1% in the 2nd quarter. Bard Financial Services Inc. now owns 470,799 shares of the investment management company’s stock worth $14,906,000 after acquiring an additional 26,965 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in shares of Tri Continental by 14.3% in the 2nd quarter. Wolverine Asset Management LLC now owns 154,054 shares of the investment management company’s stock worth $4,877,000 after acquiring an additional 19,270 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Tri Continental during the 1st quarter worth approximately $737,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Tri Continental in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri Continental Company Profile

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.