Tri-Continental (NYSE:TY) Hits New 1-Year High at $32.98

Tri-Continental Co. (NYSE:TY) hit a new 52-week high during trading on Monday . The company traded as high as $32.98 and last traded at $32.88, with a volume of 19857 shares trading hands. The stock had previously closed at $32.74.

Tri-Continental Stock Performance

The firm’s 50 day simple moving average is $31.63 and its 200 day simple moving average is $30.86.

Tri-Continental Increases Dividend

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

Institutional Trading of Tri-Continental

Several institutional investors have recently added to or reduced their stakes in TY. Atwood & Palmer Inc. bought a new stake in shares of Tri-Continental in the second quarter worth about $84,000. Motco bought a new stake in Tri-Continental during the 1st quarter valued at approximately $108,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Tri-Continental by 19.3% in the 2nd 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 in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Tri-Continental during the first quarter valued at approximately $158,000. Finally, EP Wealth Advisors LLC purchased a new stake in Tri-Continental in the fourth quarter worth $212,000. 10.22% of the stock is currently owned by hedge funds and other 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.