Tri-Continental (NYSE:TY) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Tri-Continental Co. (NYSE:TY)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Tri-Continental Stock Performance

The firm has a fifty day simple moving average of $32.95 and a two-hundred day simple moving average of $32.40.

Tri-Continental Cuts Dividend

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

Hedge Funds Weigh In On Tri-Continental

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in shares of Tri-Continental by 3,203.9% during the 3rd quarter. International Assets Investment Management LLC now owns 232,295 shares of the investment management company’s stock valued at $7,031,000 after buying an additional 225,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Tri-Continental by 19.3% during 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 purchasing an additional 579 shares during the period. Shaker Financial Services LLC raised its position in 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 valued at $5,321,000 after purchasing an additional 66,148 shares during the period. Creative Planning lifted its stake in shares of Tri-Continental by 74.8% in the 3rd quarter. Creative Planning now owns 25,860 shares of the investment management company’s stock valued at $854,000 after purchasing an additional 11,067 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Tri-Continental by 3.6% in the 3rd 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. Institutional investors own 10.22% of the company’s stock.

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.