Tri-Continental (NYSE:TY) Hits New 12-Month High at $32.40

Tri-Continental Co. (NYSE:TY) hit a new 52-week high on Monday . The stock traded as high as $32.40 and last traded at $32.16, with a volume of 10002 shares. The stock had previously closed at $32.16.

Tri-Continental Trading Up 0.8 %

The stock has a 50 day moving average of $31.55 and a 200-day moving average of $30.78.

Tri-Continental Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be paid a dividend of $0.291 per share. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Friday, September 13th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TY. Private Advisor Group LLC lifted its holdings in shares of Tri-Continental by 14.1% in the 4th quarter. Private Advisor Group LLC now owns 10,307 shares of the investment management company’s stock worth $297,000 after buying an additional 1,275 shares during the period. Wells Fargo & Company MN grew its holdings in Tri-Continental by 6.0% during the 4th quarter. Wells Fargo & Company MN now owns 269,748 shares of the investment management company’s stock worth $7,777,000 after acquiring an additional 15,351 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in Tri-Continental by 1.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 87,228 shares of the investment management company’s stock worth $2,515,000 after buying an additional 1,302 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Tri-Continental during the 4th quarter worth $212,000. Finally, Stolper Co boosted its position in Tri-Continental by 0.7% during the first quarter. Stolper Co now owns 53,152 shares of the investment management company’s stock valued at $1,637,000 after purchasing an additional 380 shares in the last quarter. Hedge funds and other 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.