Tri-Continental (NYSE:TY) Sees Unusually-High Trading Volume

Tri-Continental Co. (NYSE:TY) shares saw strong trading volume on Wednesday . 65,134 shares were traded during mid-day trading, an increase of 75% from the previous session’s volume of 37,231 shares.The stock last traded at $30.70 and had previously closed at $30.83.

Tri-Continental Trading Down 0.6 %

The stock’s 50-day simple moving average is $30.38 and its 200 day simple moving average is $29.72.

Tri-Continental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were given a dividend of $0.29 per share. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.78%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Motco bought a new stake in shares of Tri-Continental during the first quarter worth about $108,000. YHB Investment Advisors Inc. purchased a new stake in Tri-Continental in the 1st quarter valued at about $158,000. 9258 Wealth Management LLC bought a new position in shares of Tri-Continental during the 1st quarter worth approximately $213,000. Choate Investment Advisors bought a new position in shares of Tri-Continental in the first quarter valued at approximately $213,000. Finally, Independent Family Office LLC purchased a new position in shares of Tri-Continental in the 4th quarter worth about $201,000. 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.