Tri Continental (NYSE:TY) Share Price Passes Above 200 Day Moving Average – Here’s Why

Tri Continental Corporation (NYSE:TY – Get Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $34.22 and traded as high as $35.98. Tri Continental shares last traded at $35.5910, with a volume of 8,935 shares changing hands.

Tri Continental Trading Up 0.0%

The firm has a fifty day moving average of $35.34 and a 200-day moving average of $34.22.

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Tri Continental Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Monday, September 14th will be given a dividend of $0.2962 per share. This is a positive change from Tri Continental’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.18 annualized dividend and a dividend yield of 3.3%.

Institutional Investors Weigh In On Tri Continental

Several large investors have recently made changes to their positions in TY. Brown Lisle Cummings Inc. boosted its holdings in shares of Tri Continental by 22.6% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 5,150 shares of the investment management company’s stock valued at $177,000 after buying an additional 950 shares during the last quarter. HighTower Advisors LLC increased its holdings in Tri Continental by 2.1% during the second quarter. HighTower Advisors LLC now owns 29,663 shares of the investment management company’s stock worth $1,021,000 after buying an additional 598 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Tri Continental by 5.2% during the second quarter. Concurrent Investment Advisors LLC now owns 51,920 shares of the investment management company’s stock worth $1,787,000 after acquiring an additional 2,575 shares in the last quarter. RB Capital Management LLC acquired a new stake in Tri Continental in the second quarter valued at $2,102,000. Finally, Corient Private Wealth LP acquired a new stake in Tri Continental in the second quarter valued at $406,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri Continental Company Profile

(Get Free Report)

Tri-Continental Corporation is a diversified closed-end management investment company that seeks to generate long-term total return through a combination of capital appreciation and income. The firm offers investors access to a broad portfolio of securities through a single, actively managed vehicle listed on the New York Stock Exchange under the ticker TY.

The company’s core strategy centers on investing primarily in equity securities of companies located in North America, Europe and the Pacific Basin.

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