Tri-Continental (NYSE:TY) Sets New 12-Month High – Here’s What Happened

Tri-Continental Co. (NYSE:TY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $33.60 and last traded at $33.53, with a volume of 783 shares trading hands. The stock had previously closed at $33.48.

Tri-Continental Stock Up 0.3 %

The firm’s 50 day simple moving average is $32.27 and its 200 day simple moving average is $31.20.

Tri-Continental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were given a dividend of $0.291 per share. This is an increase from Tri-Continental’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, September 13th.

Institutional Investors Weigh In On Tri-Continental

Large investors have recently bought and sold shares of the business. Creative Planning raised its position in shares of Tri-Continental by 74.8% during the 3rd quarter. Creative Planning now owns 25,860 shares of the investment management company’s stock valued at $854,000 after buying an additional 11,067 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Tri-Continental in the 2nd quarter worth approximately $1,852,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Tri-Continental by 19.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 579 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Tri-Continental in the second quarter worth $327,000. Finally, Cornerstone Advisors LLC boosted its stake in Tri-Continental by 18.1% during the second quarter. Cornerstone Advisors LLC now owns 167,382 shares of the investment management company’s stock worth $5,184,000 after buying an additional 25,646 shares during the period. 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.