Tri-Continental (NYSE:TY) Reaches New 1-Year High at $30.81

Tri-Continental Co. (NYSE:TY)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $30.81 and last traded at $30.81, with a volume of 1610 shares changing hands. The stock had previously closed at $30.63.

Tri-Continental Stock Up 0.8 %

The firm has a fifty day simple moving average of $29.56 and a 200-day simple moving average of $28.12.

Tri-Continental Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Monday, March 11th were issued a dividend of $0.256 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.02 annualized dividend and a yield of 3.32%.

Institutional Investors Weigh In On Tri-Continental

Several institutional investors have recently added to or reduced their stakes in TY. AQR Arbitrage LLC boosted its position in shares of Tri-Continental by 113.6% during the third quarter. AQR Arbitrage LLC now owns 54,558 shares of the investment management company’s stock worth $1,451,000 after buying an additional 29,018 shares during the period. Mariner LLC acquired a new stake in Tri-Continental in the 3rd quarter valued at $1,938,000. Baltimore Washington Financial Advisors Inc. bought a new stake in shares of Tri-Continental during the 3rd quarter worth approximately $1,521,000. Janney Montgomery Scott LLC increased its position in Tri-Continental by 7.2% during the third quarter. Janney Montgomery Scott LLC now owns 18,298 shares of the investment management company’s stock worth $487,000 after buying an additional 1,230 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Tri-Continental by 9.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 445,892 shares of the investment management company’s stock valued at $11,856,000 after buying an additional 38,962 shares during the period. 10.22% of the stock is owned by institutional investors.

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.