Tri-Continental (NYSE:TY) Hits New 12-Month High – Here’s Why

by · The Markets Daily

Tri-Continental Co. (NYSE:TY – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $33.84 and last traded at $33.83, with a volume of 15575 shares traded. The stock had previously closed at $33.06.

Tri-Continental Trading Up 2.1 %

The company has a 50-day moving average of $32.72 and a 200 day moving average of $31.52.

Tri-Continental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were given a $0.291 dividend. This is an increase from Tri-Continental’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.16 annualized dividend and a yield of 3.45%.

Institutional Investors Weigh In On Tri-Continental

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 worth $111,000 after acquiring an additional 579 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of Tri-Continental by 3.6% during the second quarter. Johnson Investment Counsel Inc. now owns 16,815 shares of the investment management company’s stock worth $521,000 after purchasing an additional 586 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Tri-Continental by 2.6% during the first quarter. Concurrent Investment Advisors LLC now owns 24,469 shares of the investment management company’s stock worth $754,000 after purchasing an additional 620 shares during the period. US Bancorp DE grew its stake in shares of Tri-Continental by 16.4% during the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock worth $187,000 after purchasing an additional 796 shares during the period. Finally, Whitener Capital Management Inc. grew its stake in shares of Tri-Continental by 2.7% during the second quarter. Whitener Capital Management Inc. now owns 36,555 shares of the investment management company’s stock worth $1,132,000 after purchasing an additional 965 shares during the period. Institutional investors own 10.22% of the company’s stock.

Tri-Continental Company Profile

(Get Free Report)

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.

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