Tri-Continental (NYSE:TY) Sees Unusually-High Trading Volume – What’s Next?

Shares of Tri-Continental Co. (NYSE:TY) saw unusually-high trading volume on Monday . Approximately 70,832 shares were traded during trading, an increase of 82% from the previous session’s volume of 38,884 shares.The stock last traded at $31.60 and had previously closed at $31.42.

Tri-Continental Stock Up 0.7 %

The stock’s fifty day moving average price is $33.40 and its 200-day moving average price is $32.30.

Tri-Continental Cuts Dividend

The firm also recently declared a — dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 13th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a yield of 3.3%.

Institutional Trading of Tri-Continental

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in Tri-Continental by 3.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 441,730 shares of the investment management company’s stock valued at $14,595,000 after acquiring an additional 15,350 shares during the last quarter. International Assets Investment Management LLC increased its stake 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 raised its stake in Tri-Continental by 18.1% in the 2nd 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 in the last quarter. Finally, Shaker Financial Services LLC boosted its holdings in Tri-Continental by 69.7% in the 3rd quarter. Shaker Financial Services LLC now owns 161,057 shares of the investment management company’s stock valued at $5,321,000 after purchasing an additional 66,148 shares during the period. Institutional investors and hedge funds 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.