Tri-Continental (NYSE:TY) Sees Large Volume Increase

Shares of Tri-Continental Co. (NYSE:TY) saw an uptick in trading volume on Friday . Approximately 43,816 shares traded hands during mid-day trading, an increase of 9% from the previous session’s volume of 40,061 shares.The stock last traded at $30.03 and had previously closed at $29.65.

Tri-Continental Price Performance

The firm has a 50-day simple moving average of $29.97 and a 200-day simple moving average of $28.71.

Tri-Continental Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Monday, March 11th were issued a $0.256 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, March 8th.

Institutional Investors Weigh In On Tri-Continental

A number of hedge funds have recently modified their holdings of the business. 9258 Wealth Management LLC bought a new position in Tri-Continental in the 1st quarter worth $213,000. YHB Investment Advisors Inc. purchased a new stake in Tri-Continental in the first quarter worth about $158,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Tri-Continental by 6.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 56,687 shares of the investment management company’s stock worth $1,746,000 after buying an additional 3,430 shares during the period. Stolper Co lifted its position in shares of Tri-Continental by 0.7% during the 1st quarter. Stolper Co now owns 53,152 shares of the investment management company’s stock valued at $1,637,000 after buying an additional 380 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Tri-Continental during the 4th quarter valued at approximately $212,000. Institutional investors 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.