Tri Continental (NYSE:TY) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Tri Continental Corporation (NYSE:TY) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $34.75 and traded as low as $34.54. Tri Continental shares last traded at $34.5450, with a volume of 10,086 shares trading hands.

Tri Continental Trading Down 0.1%

The stock has a fifty day moving average of $34.96 and a 200 day moving average of $34.77.

Tri Continental Increases Dividend

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

Institutional Investors Weigh In On Tri Continental

A number of hedge funds and other institutional investors have recently modified their holdings of TY. Shaker Financial Services LLC bought a new position in Tri Continental in the 3rd quarter valued at approximately $2,987,000. Worth Asset Management LLC bought a new position in shares of Tri Continental in the third quarter worth about $230,000. Engineers Gate Manager LP purchased a new stake in Tri Continental in the 2nd quarter worth $340,000. Waverly Advisors LLC grew its stake in Tri Continental by 9.4% during the second quarter. Waverly Advisors LLC now owns 14,153 shares of the investment management company’s stock valued at $487,000 after acquiring an additional 1,218 shares in the last quarter. Finally, Brown Lisle Cummings Inc. increased its position in Tri Continental by 22.6% in the second quarter. Brown Lisle Cummings Inc. now owns 5,150 shares of the investment management company’s stock worth $177,000 after purchasing an additional 950 shares during the last quarter. Institutional investors own 10.22% of the company’s stock.

About Tri Continental

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.