Tri-Continental (NYSE:TY) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Tri-Continental Co. (NYSE:TY)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.70 and traded as low as $31.69. Tri-Continental shares last traded at $31.73, with a volume of 45,346 shares trading hands.

Tri-Continental Price Performance

The company has a 50-day moving average price of $32.23 and a 200-day moving average price of $32.70.

Institutional Investors Weigh In On Tri-Continental

Hedge funds and other institutional investors have recently made changes to their positions in the business. Shaker Financial Services LLC lifted its stake in shares of Tri-Continental by 69.7% in the third quarter. Shaker Financial Services LLC now owns 161,057 shares of the investment management company’s stock valued at $5,321,000 after buying an additional 66,148 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Tri-Continental in the third quarter valued at about $7,366,000. Walleye Capital LLC bought a new stake in shares of Tri-Continental in the third quarter valued at about $269,000. US Bancorp DE lifted its stake in shares of Tri-Continental by 16.4% in the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock valued at $187,000 after buying an additional 796 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Tri-Continental by 8.1% in the third quarter. Thrivent Financial for Lutherans now owns 56,128 shares of the investment management company’s stock valued at $1,855,000 after buying an additional 4,208 shares during the period. 10.22% of the stock is owned by institutional investors and hedge funds.

About Tri-Continental

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.