Tri-Continental (NYSE:TY) Reaches New 52-Week High at $30.81

Tri-Continental Co. (NYSE:TY)’s share price reached a new 52-week high on Thursday . The company traded as high as $30.81 and last traded at $30.81, with a volume of 1610 shares traded. The stock had previously closed at $30.63.

Tri-Continental Stock Up 0.8 %

The stock has a fifty day moving average of $29.56 and a 200-day moving average of $28.12.

Tri-Continental Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Monday, March 11th were given a dividend of $0.256 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.02 annualized dividend and a dividend yield of 3.32%.

Hedge Funds Weigh In On Tri-Continental

A number of institutional investors and hedge funds have recently made changes to their positions in TY. BNP Paribas Arbitrage SA purchased a new position in Tri-Continental during the first quarter worth about $25,000. Tyler Stone Wealth Management purchased a new stake in Tri-Continental in the second quarter valued at approximately $45,000. Comerica Bank purchased a new position in Tri-Continental during the third quarter worth approximately $66,000. Northwestern Mutual Wealth Management Co. raised its stake in Tri-Continental by 18.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,411 shares of the investment management company’s stock worth $87,000 after purchasing an additional 531 shares during the period. Finally, Bessemer Group Inc. acquired a new position in Tri-Continental in the second quarter valued at $102,000. 10.22% of the stock is owned by institutional investors and hedge funds.

Tri-Continental Company Profile

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.