Tri Continental (NYSE:TY) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of Tri Continental Corporation (NYSE:TY) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $33.45 and traded as low as $31.22. Tri Continental shares last traded at $31.2820, with a volume of 128,184 shares.

Tri Continental Stock Performance

The business’s fifty day moving average price is $32.87 and its two-hundred day moving average price is $33.45.

Tri Continental Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.2848 per share. This represents a $1.14 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, March 17th.

Institutional Trading of Tri Continental

A number of institutional investors and hedge funds have recently made changes to their positions in TY. Commonwealth Retirement Investments LLC acquired a new position in shares of Tri Continental during the 4th quarter valued at about $29,000. HM Payson & Co. acquired a new stake in Tri Continental in the 3rd quarter worth approximately $35,000. 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 worth $40,000 after purchasing an additional 1,059 shares during the last quarter. Assetmark Inc. bought a new stake in Tri Continental during the fourth quarter worth approximately $54,000. Finally, Advocate Investing Services LLC bought a new stake in Tri Continental during the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri Continental Company Profile

Tri-Continental Corporation is a diversified closed-end management investment company that seeks to generate long-term total return through a combination of capital appreciation and income. The firm offers investors access to a broad portfolio of securities through a single, actively managed vehicle listed on the New York Stock Exchange under the ticker TY.

The company’s core strategy centers on investing primarily in equity securities of companies located in North America, Europe and the Pacific Basin.