Tri-Continental (NYSE:TY) Hits New 52-Week High at $32.98

Tri-Continental Co. (NYSE:TY)’s share price reached a new 52-week high on Monday . The stock traded as high as $32.98 and last traded at $32.88, with a volume of 19857 shares traded. The stock had previously closed at $32.74.

Tri-Continental Trading Up 0.1 %

The stock has a 50-day moving average of $31.63 and a 200 day moving average of $30.86.

Tri-Continental Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be paid a $0.291 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.55%. This is a boost from Tri-Continental’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, September 13th.

Institutional Trading of Tri-Continental

Several hedge funds have recently made changes to their positions in TY. Atwood & Palmer Inc. bought a new position in Tri-Continental in the 2nd quarter worth approximately $84,000. Motco bought a new stake in shares of Tri-Continental during the first quarter valued at about $108,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Tri-Continental by 19.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company’s stock valued at $111,000 after acquiring an additional 579 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Tri-Continental in the first quarter valued at approximately $158,000. Finally, Choate Investment Advisors purchased a new position in Tri-Continental during the first quarter valued at approximately $213,000. 10.22% of the stock is currently owned by institutional investors.

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.