Tri Continental (NYSE:TY) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Tri Continental Corporation (NYSE:TY) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $34.18 and traded as high as $34.78. Tri Continental shares last traded at $34.5850, with a volume of 41,789 shares trading hands.

Tri Continental Trading Up 1.2%

The firm has a 50-day simple moving average of $34.73 and a 200 day simple moving average of $34.18.

Tri Continental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Monday, September 14th were paid a dividend of $0.2962 per share. The ex-dividend date was Monday, September 14th. This represents a $1.18 dividend on an annualized basis and a yield of 3.4%. This is an increase from Tri Continental’s previous quarterly dividend of $0.2852.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Uhlmann Price Securities LLC lifted its stake in Tri Continental by 178.7% during the 3rd quarter. Uhlmann Price Securities LLC now owns 29,059 shares of the investment management company’s stock valued at $998,000 after acquiring an additional 18,634 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of Tri Continental by 99.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 15,492 shares of the investment management company’s stock valued at $532,000 after acquiring an additional 7,725 shares during the last quarter. MADDEN SECURITIES Corp bought a new stake in shares of Tri Continental in the third quarter worth approximately $46,000. Shaker Financial Services LLC bought a new stake in shares of Tri Continental in the third quarter worth approximately $2,987,000. Finally, Worth Asset Management LLC purchased a new position in shares of Tri Continental during the third quarter valued at approximately $230,000. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri Continental Company Profile

Tri-Continental Corporation is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol TY. Rather than operating a commercial business, the company manages a diversified portfolio of investments for its stockholders.

The fund invests primarily in publicly traded securities, including common stocks, preferred stocks, convertible securities and fixed-income investments. Its objective is long-term capital growth, with current income as a secondary consideration.