Tri-Continental (NYSE:TY) Sets New 12-Month High – What’s Next?

Tri-Continental Co. (NYSE:TY)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.34 and last traded at $34.18, with a volume of 29394 shares trading hands. The stock had previously closed at $33.89.

Tri-Continental Trading Up 0.4 %

The firm has a fifty day simple moving average of $33.19 and a two-hundred day simple moving average of $31.88.

Tri-Continental Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 13th will be issued a $0.285 dividend. This represents a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 13th.

Institutional Trading of Tri-Continental

A number of hedge funds and other institutional investors have recently made changes to their positions in TY. Atwood & Palmer Inc. bought a new position in Tri-Continental in the 2nd quarter valued at $84,000. Northwestern Mutual Wealth Management Co. boosted its stake in Tri-Continental by 19.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company’s stock valued at $111,000 after buying an additional 579 shares during the period. US Bancorp DE grew its position in Tri-Continental by 16.4% during the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock worth $187,000 after buying an additional 796 shares in the last quarter. Walleye Capital LLC bought a new position in Tri-Continental in the 3rd quarter worth about $269,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Tri-Continental in the 2nd quarter valued at about $327,000. 10.22% of the stock is currently owned by institutional investors.

About Tri-Continental

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.