Tri-Continental (NYSE:TY) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Shares of Tri-Continental Co. (NYSE:TY) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $32.39 and traded as low as $30.97. Tri-Continental shares last traded at $31.36, with a volume of 60,292 shares traded.

Tri-Continental Stock Up 0.3 %

The company’s 50 day simple moving average is $32.98 and its 200 day simple moving average is $32.39.

Tri-Continental Cuts Dividend

The company also recently disclosed a — dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 13th were issued a $0.285 dividend. This represents a dividend yield of 3.3%. The ex-dividend date was Friday, December 13th.

Institutional Investors Weigh In On Tri-Continental

Several large investors have recently modified their holdings of TY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tri-Continental by 3.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 441,730 shares of the investment management company’s stock worth $14,595,000 after purchasing an additional 15,350 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Tri-Continental by 3,203.9% during the third quarter. International Assets Investment Management LLC now owns 232,295 shares of the investment management company’s stock worth $7,031,000 after purchasing an additional 225,264 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tri-Continental during the third quarter worth $7,366,000. Cornerstone Advisors LLC lifted its holdings in shares of 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 purchasing an additional 25,646 shares during the period. Finally, Shaker Financial Services LLC lifted its holdings in shares of Tri-Continental by 69.7% during the third quarter. Shaker Financial Services LLC now owns 161,057 shares of the investment management company’s stock worth $5,321,000 after purchasing an additional 66,148 shares during the period. 10.22% of the stock is owned by institutional investors and hedge funds.

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.