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

Tri Continental Corporation (NYSE:TY)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

Tri Continental Trading Up 0.7%

The stock’s 50-day simple moving average is $33.98 and its two-hundred day simple moving average is $32.57.

Tri Continental Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Tuesday, September 16th were paid a $0.2654 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.06 dividend on an annualized basis and a yield of 3.1%.

Hedge Funds Weigh In On Tri Continental

A number of hedge funds have recently made changes to their positions in TY. HM Payson & Co. purchased a new position in shares of Tri Continental in the third quarter valued at approximately $35,000. Ameritas Advisory Services LLC purchased a new position in Tri Continental in the 2nd quarter valued at $39,000. BNP Paribas Financial Markets lifted its holdings in Tri Continental by 529.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,259 shares of the investment management company’s stock valued at $40,000 after purchasing an additional 1,059 shares in the last quarter. Costello Asset Management INC acquired a new stake in Tri Continental during the 1st quarter worth $48,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Tri Continental by 49.7% during the first quarter. Jones Financial Companies Lllp now owns 2,643 shares of the investment management company’s stock worth $83,000 after buying an additional 877 shares in the last quarter. Institutional investors and hedge funds own 10.22% of the company’s stock.

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.