Tri Continental (NYSE:TY) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Tri Continental Corporation (NYSE:TY) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $33.37 and traded as low as $33.16. Tri Continental shares last traded at $33.2250, with a volume of 21,164 shares.

Tri Continental Trading Up 0.2%

The stock’s 50-day simple moving average is $33.51 and its two-hundred day simple moving average is $33.37.

Tri Continental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 12th were paid a dividend of $2.3154 per share. This represents a $9.26 annualized dividend and a yield of 27.9%. The ex-dividend date was Friday, December 12th. This is a positive change from Tri Continental’s previous quarterly dividend of $0.27.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TY. Shaker Financial Services LLC boosted its position in shares of Tri Continental by 79.8% in the second quarter. Shaker Financial Services LLC now owns 162,350 shares of the investment management company’s stock valued at $5,140,000 after acquiring an additional 72,063 shares during the period. Lazard Asset Management LLC boosted its holdings in Tri Continental by 15.1% in the 3rd quarter. Lazard Asset Management LLC now owns 517,626 shares of the investment management company’s stock valued at $17,599,000 after purchasing an additional 67,821 shares during the period. Quadrant Private Wealth Management LLC acquired a new stake in Tri Continental in the 3rd quarter worth $1,306,000. Allspring Global Investments Holdings LLC grew its position in Tri Continental by 12.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 311,551 shares of the investment management company’s stock worth $9,864,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Tri Continental by 27.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 123,776 shares of the investment management company’s stock worth $4,043,000 after purchasing an additional 26,593 shares during the period. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri Continental Company Profile

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.